Friday, October 22, 2010

Earnings Season Going Well,Texas Wins

Wall Street responded favorably to good earnings reports from most companies that have reported so far.Eighty percent have beaten profit estimates,while 75% have shown revenue increases as well.The market was up all round this week,with the Dow gaining 0.6;the S&P also 0.6;and the NASDAQ 0.4.Next week,a third of the largest companies will be reporting on their earnings as the quarterly ritual continues.
Wintry conditions continue their presence in pockets of the lower 48,with snow levels falling to just under 4,000 feet in mountain passes of the Pacific Northwest,snow coating Northern Maine and brushing the Adirondacks as well.A frost advisory was up in the Mid-Atlantic region,even though Saturday was expected to be mild.
The S&P futures were up 5.0 this evening as optimism about earnings season,the mid-term elections and Federal Reserve policy continued to prevail.The Dow futures rose 7.0,while the NASDAQ futures added 24.0 and bond futures also ascended.
The Texas Rangers' spirits rose as well,as they creamed the New York Yankees 6-1 for their first American League Championship in Arlington,Texas.

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