Stock Market Looking Up—Will It Last?
From Profit Confidential
January 23, 2013 - 10:35am
This is a stock market that wants to go higher, but it needs a little more certainty in the marketplace in order to do so. Corporate earnings are now rolling in, and so far, the numbers have been decent. Still, there’s no runaway growth in earnings, and even companies that beat consensus aren’t seeing the typical reaction in share price as in previous markets.
The Dow Jones Transportation Average is holding up; there’s real strength in this stock market, and that’s a very positive signal. Union Pacific Corporation (NYSE/UNP) reports this week, and this will be an important benchmark, not only for the company itself, but also for general economic conditions. Wall Street consensus calls for revenues of $5.3 billion and earnings per share of $2.16. I read every word of this company’s earnings reports; what each says is a good barometer on the state of the industrial economy. Union...
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