Posted on 07/19/2010 10:47:48 AM PDT by Patriot1259
"Sign, sign everywhere a sign,
Blocking out the scenery, breaking my mind,
Do this, don’t do that,
Can’t you read the sign?"
--The Five Man Electrical Band, 1971
A big drop on Friday wiped out earlier gains in the week and left the Dow Jones Industrials down 1%. The Dow is lower by 3.2% since January 1. The S&P 500 pulled back 1.2%, its third weekly loss in the past four. NASDAQ showed a loss of 0.8%.
Corporations reported quarterly earnings in earnest last week and the news has largely been good. So far, three out of four companies have beaten Wall Street profit forecasts while 82% topped estimates for revenues. This quarter is nearly certain to mark the S&P 500’s sixth straight positive quarterly earnings surprise following six negative revelations in a row mid-2007 through 2008.
(Excerpt) Read more at thecypresstimes.com ...
Why?
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