Salient to Investors:
Hank Smith at Haverford Trust said the story for stocks this year is about confidence replacing uncertainty and anxiety, a big driver for equity returns, and we are still far away from worrying about too much optimism or exuberance. Smith said the driver of equity returns from March 2009 has been fundamentals, not Fed policy – tremendous earnings growth confirmed by dividend growth.
Malcolm Polley at Stewart Capital Advisors said everybody is hanging on the Fed’s every word and want more clarity on Bernanke’s comments last month , even though they were not hawkish. Polley said Bernanke clearly saying he is not going to step on the brakes, just let up on the accelerator.
Read the full article at http://www.bloomberg.com/news/2013-07-11/u-s-stock-index-futures-advance-after-bernanke-comments.html
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