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Melt Up!

Posted By Barry Ritholtz On April 20, 2011 @ 6:24 am In Earnings,Trading | Comments Disabled

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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 [2]).

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:

[1] Image: http://noir.bloomberg.com/markets/stocks/futures.html

[2] Dollars Flow Back Into Tech: http://online.wsj.com/article/SB10001424052748703789104576273334060180482.html

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