April 20, 2008 |
Attached/linked please find And That’s The Week That Was, the Brounes & Associates market/economic commentary for the week ended April 18, 2008. Enough with the negativity. No more “gloom and doom”.It’s time for a newattitude. Bring back the bulls. Apparently folks simply have had enough (at least, for one week that is). While this week’s earnings reports were lackluster at best (for the most part), investors rejoiced that no new surprises surfaced. Financials reported lower profits (and some losses), though the news came in as expected and the newfound sentiment seemed to be that the “worst of times” has now passed. In fact, reports from a few “new economy” techs (IBM, Google) and “old economy” companies (Caterpillar) surpassed expectations and added to the euphoria. Even some relatively weak economic releases couldn’t put a damper on the optimism. Here to hoping the new “trend is your friend” (and we can all use a new friend these days).
Coming up in the week ahead: Existing Home Sales (Wednesday), Durable Goods Orders (Thursday), New Home Sales (Thursday)earnings, google, IBM, investors, new economy