The market retreated Tuesday on concern about the outlook for corporate earnings and ongoing worries over the U.S. debt ceiling. However, of the S&P 500 companies that have reported their quarterly results so far, 73% have beaten expectations. The consumer confidence index rose to a reading of 59.5 in July from 57.6 in June. Amazon rose 5% in after-market trading after the company's quarterly sales jumped 51%, beating expectations.
Wednesday, July 27, 2011
Lacking buyers
The market retreated Tuesday on concern about the outlook for corporate earnings and ongoing worries over the U.S. debt ceiling. However, of the S&P 500 companies that have reported their quarterly results so far, 73% have beaten expectations. The consumer confidence index rose to a reading of 59.5 in July from 57.6 in June. Amazon rose 5% in after-market trading after the company's quarterly sales jumped 51%, beating expectations.
