July 20, 2011

CAN A BIG ENOUGH DEAL BE THE OPPOSITE OF 9-11?:

Stocks soar on earnings and new U.S. plan to avert default (Tom Petruno, 7/20/11, Los Angeles Times)

U.S. stocks surged and Treasury bond yields fell Tuesday after President Obama signaled possible support for a bipartisan plan to slash federal spending. [...]

The market had rallied early in the day as financial tensions eased in Europe and as investors reacted to strong quarterly earnings reports from companies including IBM Corp., Coca-Cola Co., Wells Fargo & Co. and Harley-Davidson Inc.

Market bulls have been steadfast that earnings reports would save them, and that's looking like the right call.


Posted by at July 20, 2011 7:29 AM
  

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