- The Big Picture - http://www.ritholtz.com/blog -
Posted By Barry Ritholtz On April 20, 2011 @ 6:24 am In Earnings,Trading | Comments Disabled
Futures are appreciably higher this morning, with the Dow looking at a triple digit gain at the open. If markets can hold these levels, the Tuesday/Wednesday trading will erase all of the S&P negative outlook sell off and then some.
Intel (INTC) beat estimates, and forecast higher sales in Europe and Asia for Q2. IBM also issued sales and profit forecasts that suggest a corporate computer systems upgrade cycle is getting underway, following a fallow period during the the recession (See Dollars Flow Back Into Tech ).
European bourses were up 2%; Asian markets were up one and half %.
Article printed from The Big Picture: http://www.ritholtz.com/blog
URL to article: http://www.ritholtz.com/blog/2011/04/melt-up-3/
URLs in this post:
 Image: http://noir.bloomberg.com/markets/stocks/futures.html
 Dollars Flow Back Into Tech: http://online.wsj.com/article/SB10001424052748703789104576273334060180482.html
Copyright © 2008 The Big Picture. All rights reserved.