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Earnings Forecasts Halt Weeklong Stock Rally

Earnings Forecasts Halt Weeklong Stock Rally (Bloomberg)

Disappointing earnings forecasts from various companies led U.S. stocks to fall today, ending an S&P 500 rally that lasted five straight sessions. “The market has run quite a bit,” Edward Painvin, chief investment officer of Chase Investment Counsel Corp., said from Charlottesville, Virginia. “Every time you have that kind of move going into earnings season, expectations are high. The market is going to be placing an increasing amount of emphasis on companies delivering expectations and providing some clarity for 2014.”

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