Salient to Investors:
Michael Holland at Holland & Co. said earnings outperforming estimates is generally supportive for stocks, and the growing global economy bodes well.
75 percent of the 341 S&P 500 companies that have reported Q4 results have beaten estimates. The S&P 500 is at 14.96 times earnings versus the 16.61 average since 1954.
Troy Gayeski at SkyBridge Capital said records don’t matter much as strategic allocators are looking more at relative value between asset classes and measures of valuation. Gayeski said the current path is extremely strong, though not grossly cheap on a valuation basis.
Read the full article at http://www.bloomberg.com/news/2013-02-08/s-p-500-caps-longest-weekly-gain-since-august-on-earnings.html
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