Happy Friday everyone,
Two economic bellwethers have reported their earnings: Citigroup (ticker: C) and General Electric (ticker: GE). Both firms have reported earnings better than expected. In fact, Citigroup is profitable for the first time in 18 months. This is good news. GE, a large conglomerate, has a finance arm called GE Capital that has been a source of investor ire for the past year and even it was profitable in the most recent quarter.
The earnings season is still young, however all of the major companies that have reported have reported earnings either in line with expectations, or that have exceeded expectations. This is an indication that the recession is starting to end. Now if we could just get consumers to still their beating nervous hearts!
I would expect the financial markets, especially the stock markets, to extend their rally.
Have a good weekend!
Jason
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