When all you read is gloom, turn here for a much different perspective.

Thursday, April 16, 2009

Another Thursday; Another String of Good News

Today the good news just kept on coming... You'll remember that last Thursday also featured a string of positive economic stories.
So far this earnings season there continues to be no basis for earnings fear. In fact as the markets continues it's swift accent higher, the S&P 500 index is now up over 3% since earnings season began last Monday morning.

6 comments:

  1. I wonder if the easing of the mark to market rules has something to do with the better than expected bank earnings. I know some analysts believe this rule played a big part in the sudden collapse of bank stocks. While no one argued that real estate prices were falling rapidly, it made no sense to mark the value of the MBSs to near zero just because there was no market for them at the moment. As long as the underlying loans were still performing- and they were-why mark them down in a way which made it seem like the banks were insolvent?

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  2. Anonymous,

    There is no doubt that the change to the rule has helped many banks. It is interesting however that analysts that follow the banks have not caught on to that and changed their estimates. The bank surprises to the upside continue to come in. The big surprise however in all cases is how well the banks mortgage origination businesses are performing. The banks are no doubt lending again and making good money at it.

    GNE

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  3. I did my entire blog on Google today: www.themarketsupchuck.com

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  4. Nice article Chuck. Indeed Google is a poster-child for how to focus on positive market drivers in the face of macro downturn.

    GNE

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  5. Rosetta Stone is here to stay. It is a product utilized by the US Government. It's going to go uno, dose, trace and quatro. BUY BUY BUY

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  6. Any word on exports? It seems like a big decline in exports contributed greatly to the drop in GDP. Any improvements seen here?

    ReplyDelete

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