Equity valuation will likely remain tied to global central bank rhetoric and rates, which is turning incrementally less negative. "3Q and 4Q earnings should confirm fundamentals remain anchored in resilient labor market and Covid reopening. markets to their lows of the year in recent weeks, but the solid start to earnings season may signal that the economy is currently in better shape than feared. Lockheed Martin also rose 8.7% after its earnings per share topped estimates.įears of a recession and overly aggressive central banks have helped push the U.S. That report continued a strong stretch of bank earnings, including beats from Bank of America and Bank of New York Mellon on Monday, and the financial sector as a whole outperformed on Tuesday. Goldman Sachs rose 2.3% to boost the Dow after strong trading results helped the investment bank beat quarterly earnings and revenue expectations.
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