The U.S. Stock Market Made New Highs and Bad Earnings Followed
I'd be lying if I said I wasn't surprised the market made new highs today.
Some Earnings May Weigh
Tomorrow those new highs may not last as they were followed by some less than stellar earnings announcements from the likes of Google one of the fan favorite FAANG stocks.
Google missed Q3 earnings per share by a hefty margin coming in at $10.12 while expectations were for $12.42.
Never a good thing when one of the big dogs disappoints. We shall see what the market brings, but a gap up to a new high needs a good earnings season to continue higher. Some more big names such as Apple report this week as well!
Scaredy, the market loves an interest rate drop (coming up) and "most certainly not QE" daily money drops.
Juice the market till the election!
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