Tuesday, October 16, 2012

Economic Journal - Tuesday, 10/16/2012

(As of 7:10 am pacific)
Positive earnings surprises continue to add to yesterday's market rally.  Banks continue to lead the way as Goldman beat estimates handily due to hefty investment gains.  In other banking news, the head of Citigroup resigned, in a move that surprised Wall Street. International news is quiet.  Gold is up slightly and oil is near unchanged.  The dollar is mostly down against other currencies, while interest rates hold near historic lows.  The Dow could be headed for its second consecutive triple digit gain as enthusiasm for positive earnings surprises build.