Stocks took a break after big gain last week. S&P 500 index closed the week at 1472, up 0.38%. Dow Jones Industrial Average gained 0.4%, and Nasdaq composite increased 0.77%.
Earning season started Tuesday after ALCOA reported its upbeat quarterly earnings. So far companies have been reporting better than expected earnings with brighter outlook. Technically, S&P 500 index stays the same as last week: momentum is getting higher and price is trending upward. With good fundamental and technical backdrop, the rally is expected to continue for at least another few weeks.
1 comment:
I was taking a look at alcoa. This stock is a really good value. The stocks trading below 10 dollars.
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