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Stocks rallied for the 5th day in a row. Another positive session today will make it day 6. And the market is on pace to close up for its 3rd week in a row.
Pretty impressive.
As mentioned before, growing optimism over trade talks with China continues to fuel this market. Same for the robust economy and record employment.
We also have Q4 earnings season on deck. And that officially starts next week on January 16th, when Alcoa reports after the close.
Earnings season historically is a great time for the market. In fact, over the last 9¾ years of this bull market, there have been 39 earnings seasons, and 28 of them (72%) have been up. And the median gain is 1.47%.
That may sound like peanuts given the market's already more than 10% gains from the lows in the last few weeks. But it underscores the probability of more gains to come.
And we all know how stocks can soar if they positively surprise. It's not uncommon to see stocks surge 10%, 15%, or even 20% or more in one day on a fantastic report.
As you can imagine, there's plenty of excitement around earnings season.
And this one could be shaping up to be a big one.
Best,
Kevin Matras
Executive Vice President, Zacks Investment Research
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Solid global growth scenario, an uptick in manufacturing activity, increase in exports and strong demand from end-use markets are expected to boost the sector. Read More »
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Stocks rallied for the 5th day in a row. Another positive session today will make it day 6. And the market is on pace to close up for its 3rd week in a row.
