U.S. Stocks Rise to Highest Level Since 2007 on Earnings – Bloomberg 02-08-13

Salient to Investors:

James Paulsen at Wells Capital Mgmt said people are finally deciding that this looks more like a sustainable recovery.

75 percent of 341 S&P 500 companies so far reporting have beaten estimates, 67 percent have beaten sales estimates. The S&P 500 P/E is at 15 versus the average of 16.6 for the past decade.

John Fox at Fenimore Asset Mgmt doesn’t see anything changing the rising trend in oil exports.

Donald Selkin at National Securities Corp said stocks are fairly valued, and as long as interest rates stay low, we won’t get much multiple expansion.

Read the full article at http://www.bloomberg.com/news/2013-02-08/u-s-stock-futures-are-little-changed-linkedin-rallies.html

 

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