Photo: Wikimedia Commons
What happened in markets over the last couple days that have investors forgetting all their worries (like Spain and the US economic softpatch, etc.)?Dan Greenhaus of BTIG posits:
After the close, several earnings reports are out including INTC (evidence of PC refill) and IBM (missed revenue estimates). But earnings aside, our client conversations over the last 48 hours have centered on the “surprise” factor, that growing European concerns and a break in AAPL following BTIG’s downgrade of the stock have not broken broader markets. Irrespective of how one feels about the investing landscape, this latter point is, at least to us, impressive.
We don’t know. Investors like to tell themselves stories, and this could just be a clever one. Still, interesting that it’s come up.