Monday, July 19, 2010

Market Opens Higher

Several areas of good news are lifting the market early this morning. First, good earnings were reported by DAL, HAL, and HAS before the bell (check Saturday's post for numbers). The one problem with the reports is that revenues are a little weak, which is a negative sign, but the companies are reporting profits above estimates though. Second, the NABE (National Association for Business Economics) said its latest survey found that 31% of businesses added workers between April and June, the highest level in three years. Also, 39% of those surveyed, said they expect to hire more worker in the next six to nine months. This is definitely a step in the right direction. Unemployment is holding this market back. The sooner the US starts hiring again, not only will the economy turn again, but the stock market will begin to rally.

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