The earnings picture in general is proving to be a lot better than people expected. The outlook for earnings is still very positive so these markets are doing exactly as you'd expect. There's no indication yet they're looking tired.
More Quotes from Mike Lenhoff:
Generally speaking, the earnings results have been good. We've got another quarter of solid growth. It suggests to me investors should not be quibbling about the backdrop of the market,Mike Lenhoff
These bond markets seem determined to convince everyone that interest rates are going a lot higher than expected.
Mike Lenhoff
The key thing is to make sure the consumer doesn't start flagging,
Mike Lenhoff
The global outlook is OK, so that suggests that the earnings (growth) will still be there, and as long as they are, people take the view that the wherewithal for dividend growth and share buybacks will be there.
Mike Lenhoff
We are seeing more analyst downgrades than upgrades, ... Loss of earnings momentum in Europe is weighing.
Mike Lenhoff
Corporate earnings growth remains supported by the outlook for global economic activity, which is improving.
Mike Lenhoff
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