Scoreboard: Market magic

Wall Street saw solid gains with politicians out of the way, while over 60 per cent of US companies so far beat their earnings estimates.

Another day and another record it seems. At least for stocks (on the S&P500) in the US given that Congress, while not really having solved anything, is at least out of the of the picture for a bit. And when policy makers get out of the way, magic happens. Gains weren’t necessarily spectacular, but solid enough with the S&P500 up 0.7 per cent (1744) and the Nasdaq 1.3 per cent higher. The Dow however was only 0.2 per cent higher – partly because of disappointing earnings from IBM.



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