During the past two weeks, one hundred forty-eight of S&P 500 companies reported quarterly results. One hundred fifteen of these companies delivered positive results with total year over year revenue from this group increasing by approximately 9%. Additionally, on Friday, General Electric Company (US: GE) unexpectedly increased its quarterly dividend in a sign of confidence about its future.
MY TAKE: Given the rally off the July lows, recent stability in the price of copper and a potentially improving tone in Asia; if several US economic data releases scheduled for this week support an improving view, we may have hit bottom. Until then, both bulls and bears have plenty of data to support their market perspective.