(Lee Siler) - Stocks took a hit yesterday despite a slew of positive earnings news. It appears that the recent run up in stocks prices was in anticipation of a better than expected third quarter with regards to profits. It is ominous that the market can't seem to chug higher in the midst of terrific quarterly reports. With about 25% of the S&P 500 reporting earnings, approximately 79% of companies have beat analysts' expectations. That is itself is much better than average.
Read the rest of this entry »