Allegedly it was all due to Caterpillar posting a strong second quarter.
Earlier in the day Bernanke spoke about the realities of the economy and not much is new here. At some point the unemployment numbers subside, foreclosures peter out, and the chill in the public conscience thaws.
One thing to remember is that many corporations are showing better numbers or better than expected numbers because they have laid off scads of workers and have cut all kinds of costs. Exactly how many times can that process be repeated.
Reuters: Dow rises on Caterpillar; Nasdaq, S&P 500 edge up
...a solid profit from Caterpillar Inc eclipsed unease about the company's outlook for the current quarter...
No comments:
Post a Comment