FYI: Last week, all three of the major indices posted their first four-day winning streak since August. Both the Dow (^DJI) and S&P 500 (^GSPC) closed the week 2% higher. According to Bespoke, this is the best start to a year for the S&P 500 since 1987.
So far, about 13% of the S&P 500’s market cap has reported Q4 earnings. “Earnings are beating by 1.7%, with 70% of companies exceeding their bottom-line estimates. This compares to 4.9% and 70% over the past 3 years,” Jonathan Golub, Credit Suisse’s chief U.S. equity strategist, said in a note Friday.
Next week, markets will be closed on Monday, January 21 in observance of Martin Luther King Jr.’s birthday and will reopen for trading on Tuesday, January 22.
Regards,
Ted
https://finance.yahoo.com/news/davos-stock-market-news-preview-200013096.html
