Earnings Mixed, Stocks Generally HigherSubmitted by LWM | Linden Wealth Management LLC on October 24th, 2019
Earnings Have Been Mixed With Stocks Generally Higher
So far, third-quarter earnings results have something for everyone. There have been a few notable standouts like Tesla, whose stock surged 20% on surprisingly stronger earnings to Twitter who's down by almost an equal amount.
Stocks have generally responded positively to earnings with the S&P 500 trading above 3,000, up nearly 1% for the week. While it's still early, and political and economic headwinds persist, it's worth noting that in this low-interest-rate environment, the path of least resistance has been for higher equity prices. The cautious tone and reasonable valuations help as well.
It's incredible to see two stocks trading over $1 trillion in Apple and Microsoft. Amazon isn't far behind. These are hugely influential companies on the leading edge of the global economy. Microsoft reported stronger than expected earnings on the back of cloud computing. Amazon announces tonight and Apple on the 30th.
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