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Updated News on the Market
Weekly Update 7/31/09
Really good news for the stock market, this marked the third
straight week with a gain. The S&P was ahead even though its
slight gain 0.86% was small, was still positive. Its gain
over the past two weeks was 4.1% and 7%. The S&P 500 Index closed at 987.48 on July 31, a level last
exceeded on Nov. 4, 2008, the day of the presidential election.
Bloomberg reported that about 75% of S&P 500 companies have exceeded
analysts' second-quarter earnings forecasts. If the trend continues, it would
represent the best performance of companies exceeding analyst expectations since
Bloomberg began keeping records in 1993. The data also revealed that companies
have beaten forecasts by an average of 9%, even as earnings declined 31%.
