It's been a mostly positive news day in the US, which is being reflected in equities

Jay Soloff
Jay Soloff Argonath Financial

It's been a mostly positive news day in the US, which is being reflected in equities. The major indices are up a half a percent to a percent, with the Dow leading the way. Perhaps the most important catalyst for the move higher, China's better than expected manufacturing data is an encouraging sign for domestic and global economic growth. In addition, earnings reports so far today have generally been better than expected. Ford is moving higher on a brighter outlook for European business (good news for both Ford and Europe). Homebuilders are also rallying on strong industry earnings data. According to Bloomberg, 76% of companies that have reported so far have eclipsed profit predictions. Two big earnings results come out today after close, with MSFT and AMZN reporting. For those interested, I'll post a wire on the results later today.

usa earnings china economy

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