What do we focus on tonight, the market action or after hours earnings? Or Dodgers baseball?
Reason du jour? Investor enthusiasm! Yes, with Coke, JNJ, and Goldman Sachs reporting good earnings, investors had to get in today. In addition, investors snapped up Spanish bonds, easing Euro fears. At least for today. Maybe we just saw some buying after "the world is ending" view of yesterday, but this was a pretty significant move, right? The market closed strong, the Nasdaq led.
The Slope of Hope: Some earnings are coming in better than expected. Things seem to have gone okay with the Spanish bond auction. No bad news from China. Apple rallied over 5%, after 5-days in a row down! Back over $600 and back on its way to $1001.
The Wall of Worry: After the bell, IBM and Intel reported and disappointed investors. Stocks were trading down after hours. IBM has a 12% weighting in the Dow, so we shall see what happens after folks have a night to sleep on it.
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Dodgers choked one away in the 9th on the road in Milwaukee. My dog knew something bad was going to happen as she started barking at me to take her for a walk with no outs in the bottom of the ninth, and Javy Guerra having put the first two runners on. Towards the end of the walk my friend called me to tell me the Dodgers had lost.
Another night of no podcast/audioboo. Two nights in a row of cycling and puppy walking, with lots of wind to prevent the audioboo-on-the-walk thing. Tomorrow!