According to data from Luft, 77% of the companies that have reported results have exceeded analysts' estimates since the second week of the third quarter's results announcement quarter. Currently, analysts predict that the third quarter's earnings per share is expected to decline 1.9% year-on-year and 3.2% on October 14. Of course, it's early in the earnings season, but it's encouraging for at least some investors.
"After this week and next week, as long as the results announced remain the same as in the past two weeks, they will continue to support the market," said Jack janasiewicz, portfolio manager and strategist at fasun investment management's multi asset portfolio solutions in Boston.
Cease fire in trade disputes - the United States and China have said they plan to sign a "first phase trade agreement" in mid November. U.S. President trump said Monday that he expects to sign the first phase of the trade agreement with China ahead of time, and the market rose sharply.
As trade disputes have weighed on global growth and created a large backlog of positions in the stock market, Monday's bullish headlines sparked investor risk appetite.
"The situation has stopped upgrading and is moving in a positive direction," said Mona Mahajan, an American investment analyst at Allianz global. But she warned that the U.S. - China relationship is fickle, as investors have been saddened by the unexpected collapse of an expected deal in May this year.
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