U.S. Stocks Rise as Dow Climbs to 5-Year High on Earnings – Bloomberg 01-29-13

Salient to Investors:

Jay Wong at Payden & Rygel said continued earnings beats is helping drive the market, which has a lot of momentum.

The Index of consumer confidence was the weakest since November 2011 and lower than the most pessimistic forecast in a Bloomberg survey.

75 percent of the 179 S&P companies reporting have exceeded profit projections, 67 percent have beaten sales estimates.

The median economist expects QE to end in Q1, 2014.

Michelle Clayman at New Amsterdam Partners said economic growth is so modest it’s highly unlikely the Fed will consider tightening.

Read the full article at http://www.bloomberg.com/news/2013-01-29/u-s-stock-futures-little-changed-before-confidence-data.html

 

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