“The earnings season in general has been better than expected, with 68% of the S&P 500 reporting upside surprises, and we’re three-quarters of the way done,” said Art Hogan, chief market strategist, Jefferies & Co. “A lot of the upside surprises have come from financials, and there we were pretty gloomy coming into it,” Hogan added.
Unbelievable, markets finish in the RED with Chrysler’s chapter 11, but celebrated with 160+ finish in the GREEN yesterday for GDP fell 6.1%. Never in my life have I seen a quarter where so many companies have “beat estimates” on plunging sales and profits. Even in good times, it’s very rare to see this many companies “beat estimates,” which goes to show just how absolutley rigged these “estimates” are. I wonder when the “markets” will finally look at the numbers, rather than the rigged headlines?
