Salient to Investors:
Peter Jankovskis at Oakbrook Investments said many companies have beat earnings estimates but investors are watching their ability to grow revenue.
69 percent of S&P 500 companies beat Q3 analysts’ estimates, 59 percent missed sales forecasts.
Caterpillar forecast sales growth for 2013 that is the slowest in four years. Freeport-McMoRan Copper & Gold missed analyst estimates.
Max King at Investec Asset Mgmt says good earnings growth, an improving economy, good equity valuations, easy monetary policy, skeptical investors, low positioning in equity assets is a major green light for equities.
Read the full article at http://www.bloomberg.com/news/2012-10-22/u-s-stock-futures-climb-before-earnings.html