SCOREBOARD: Bears naked

Positive US earnings and European economic data buoyed markets proving the bears wrong again.

Global equities got another solid boost overnight on the back of strong US earnings reports and positive European economic data. Just another day of humiliation for pessimists. For the US, it’s looking like stocks are getting their biggest boost in about a month after Johnson and Johnson, Mattel and Goldman Sachs posted better than expected results. Indeed so far it’s not looking like the earnings season is all that bad. In any case, US stocks are up into the close with the S&P almost 1 per cent higher (1454), while the Dow has put on 103pts (to 13527), and the Nasdaq is 1.1 per cent higher (3096).

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