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Strong Earnings Continue To Satisfy Investors, Driving Markets Higher

Posted on , updated on by TOVA Wealth

Week Ahead Market Commentary – October 21, 2024

Stocks March Higher Powered By Earnings

We have argued that the most important factor to drive stocks prices is corporate earnings. We are early in the 3Q24 earnings season, and so far, earnings are beating expectations. Companies that are surprising to the upside are rallying, especially when their corporate outlook for the future is positive. Importantly, when we look at projected earnings of the next 12 months globally, the U.S. is forecast to have the best earnings in the world! Strong earnings growth and the best earnings in the world are powering stocks higher, driving the S&P 500 and Dow Jones Industrial Average to record highs.

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