The euro was under siege in the spring and sold down to $1.17. The S&P 500 rose during the same period from 1,100 in early April to 1,210 in late May. Wall Street expected large American companies to post substantial earnings improvements for the second quarter on cost cuts and sales recoveries matched to GDP improvement.
More recently, the euro and and US stock market have traded in tandem. Global capital market investors believe that the financial fortunes of Europe have improved, notwithstanding trouble in Ireland and Spain. Most large cap US companies are expected to post good Q3 earnings, although much of that may be due to ongoing tightening of expenses and workforce cuts.
Douglas A. McIntyre
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
