Stock Trading News – Stocks rise on good earnings reports – USA Today
Today’s earnings reports helped alleviate concern that the worst housing slowdown in 16 years would cause profits to drop for the first time since 2002. The 170 members of the S&P 500 that have reported third-quarter results posted an average earnings gain of 4 percent, according to Bloomberg data, topping a 0. Still, as AP notes, although some investors are momentarily looking past the economic elephant in the room â” the housing slump â” not everyone is sanguine about what might lie ahead. Third quarter results released by a raft of large US groups showed that the weaker dollar and global economic growth are helping parts of corporate America to cushion the blow of the housing downturn and liquidity squeeze. read more
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