Positive Earnings Data Boosts Stocks (Bloomberg)
Stocks rose today, thanks in part to forecast-beating earnings reports and the perception that the current slow economic growth will lead the Federal Reserve to continue its stimulus policies. ???We are right at the heart of earnings season so everything at this point of time is very earnings driven,??? Mark Spellman, a portfolio manager at Value Line Funds in New York, said. ???Earnings have been as good if not slightly better than expected. We???ve done a lot on the cost side. What people want to see is continued progress in the sales line.???