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| Your Weekly Update Is Now Online | Oct 19, 2018 |
Dear Sheryl, At first glance, it was another wild week on Wall Street. On Tuesday, third-quarter earnings season kicked off with a bang. Better-than-expected results from the big banks, coupled with a dip in the 10-year Treasury yield, sparked a broad-based rally. However, before investors could get too comfortable, the stock market gave up some of its gains on Thursday. Now, the pullback had nothing to do with the stock market or our stocks. Instead, Wall Street was looking for any excuse to retest its lows from last week. Amidst the day-to-day fluctuations, there was a very encouraging sign. The companies that had strong earnings announcements were largely immune to the pullback. To put it another way, earnings are working. In this Weekly Update, I’ll explain why this is so important. I’ll also run down the seven earnings reports we had this week, and what’s coming down the pipeline.
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