Stock mar­kets snap los­ing skid, thanks to op­ti­mism on earn­ings

Austin American-Statesman - - BUSINESS & PERSONAL FINANCE -

Stocks gained Tues­day, with the Stan­dard & Poor’s 500-stock in­dex ris­ing from a 10-month low, amid spec­u­la­tion that growth in cor­po­rate earn­ings will help stocks re­bound from their low­est val­ues since last year’s bull mar­ket be­gan. The Dow Jones in­dus­trial av­er­age gained 0.6 per­cent to snap a seven-day los­ing streak, its long­est since the fi­nan­cial cri­sis in 2008.

An­a­lysts are rais­ing earn­ings es­ti­mates for U.S. com­pa­nies at the fastest rate since at least 2004. Profit for com­pa­nies in the S&P 500 will jump 34 per­cent this year, ac­cord­ing to more than 8,000 es­ti­mates com­piled by Bloomberg News, com­pared with a pro­jected gain in March of 27 per­cent.

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