![]() "As it turns out money-market funds were buying the Treasurys and adding more liquidity in the market," Krosby said. debt resolution would drain liquidity in equity markets. Those include now-extinguished concerns about the debt ceiling, and fears that a flood of Treasury bills unleashed by the U.S. On the other side, there's a "wall of worry" that keeps getting addressed, Krosby said. There's a continuing tug of war between the bulls and bears, but for now the bulls are pulling harder, powered by earnings results and a picture of cooling inflation, noted Krosby. That's just one reason for Tuesday's gains. "So far, companies are surprising to the upside," Quincy Krosby, LPL Financial's chief global strategist said in a phone interview. See:Bank ETFs bounce, with this fund heading for potentially best month since 2021 Defense contractor Lockheed Martin (LMT) also released its results. On Tuesday, more large banks reported results, including Bank of America(BAC), Morgan Stanley(MS) and BNY Mellon (BK), while Interactive Brokers (IBKR)and Charles Schwab (SCHW) also presented their numbers. ![]() Investors are getting another look at the economy from the eyes of corporate America, as the second-quarter earnings season rolls in. On Monday, the Dow Jones Industrial Average rose 76 points, or 0.22%, to 34585, the S&P 500 increased 17 points, or 0.39%, to 4523, and the Nasdaq Composite gained 131 points, or 0.93%, to 14245. All three stock indexes ended at their highest levels in 15 months, with gains led by banks and technology stocks, helped by upbeat corporate earnings reports, despite retail sales data showing the U.S. ![]()
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