This is from today's article in WSJ.com:
"Wall Street Beats a Retreat
Despite Strong Retail Sales
By ELIZABETH WEINSTEIN
THE WALL STREET JOURNAL ONLINE
April 13, 2004 2:27 p.m.
Equities lost ground fast in Tuesday afternoon as investors, concerned about an interest-rate increase, pulled back despite upbeat earnings and economic news."
So let me get this straight: If earnings are up it's bad for the market "because investors worry about interest rates". If earnings are down its bad too, because ... well, the earnings are down.
Or is it possible (God forbid) that media is coming up with the news and explanations as the day goes by?
"Wall Street Beats a Retreat
Despite Strong Retail Sales
By ELIZABETH WEINSTEIN
THE WALL STREET JOURNAL ONLINE
April 13, 2004 2:27 p.m.
Equities lost ground fast in Tuesday afternoon as investors, concerned about an interest-rate increase, pulled back despite upbeat earnings and economic news."
So let me get this straight: If earnings are up it's bad for the market "because investors worry about interest rates". If earnings are down its bad too, because ... well, the earnings are down.
Or is it possible (God forbid) that media is coming up with the news and explanations as the day goes by?