Back Up The Wall Of Worry

European stocks hit records Monday and Japanese shares surged, as global equities looked to build on October's momentum into year-end. More than two-thirds of European companies topped EPS estimates so far this earnings season, although the magnitude of beats is smaller than the previous three quarters, JPMorgan's Mislav Matejka said. Morgan Stanley called European results "very healthy given the trickier operating backdrop." "Q3 results are coming in well ahead of expectations in aggregate,"

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5 thoughts on “Back Up The Wall Of Worry

  1. I traveled out to California this weekend (near Sacramento) to visit my brother & his wife. Airports are full, airplanes had no empty seats. We were not the only ones “out and about” spending money, either.
    I am guessing the Q4 2021 EPS might be a bit choppy, but the guidance for Q1 2022 EPS will be strong- as employment/supply issues continue to fade. With all of the money trying to get out of bonds and into equities, investors will be forgiving of any Q4 choppiness or disappointments.

    1. Ah, what a quaint notion: The economy as a leading indicator for stocks! Next thing you’ll tell us that earnings matter as well!

      Wealthier people have the money, time and desire to travel. A good-sized proportion of the population but not the majority.

      We’ll see said the blind man to the deaf man.

    2. FWIW one reason for “full flights” is there aren’t as many of them. Seems the airlines cut too far back for COVID and have yet to staff up. Would be interesting to know comparison of actual number of passengers flying; and business vs. pleasure etc.

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