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Stocks closed higher yesterday with all of the major indexes in the plus column for the day, and for the week.
Optimism over Q2's earnings season continues to lift stocks, even though it doesn't officially start until after the close today when Alcoa reports.
Although, it looked like the markets were in for a tougher go yesterday after Netflix reported weaker than expected subscriber growth on Monday. With after-hours trading down as much as -14% Monday night, traders were bracing for a rout on Tuesday. But instead, it only closed down by -5.24%. And tech as a whole still finished up.
Again, this bodes well for Q2's earnings season. As I've mentioned before, over the last 9 ½ years since this bull market began, the median increase for the S&P during each earnings season has been 1.79%, with gains being seen more than 70% of the time.
And the 30-day period after earnings season ends, has shown an additional 1.45% gain with increases seen nearly 65% of the time.
So traders have a right to be excited this earnings season as the market looks poised for a profitable couple of months.
See you tomorrow,
Kevin Matras
Executive Vice President, Zacks Investment Research
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Stocks closed higher yesterday with all of the major indexes in the plus column for the day, and for the week. 
