Spreadex Market Update
Global markets roar
The surge was largely down to Goldman Sachs third quarter results which showed earnings of $1.46 billion, a massive improvement compared to a loss of $428 million for the same quarter last year.
Although the markets are clearly impressed with Goldman Sachs results. Perhaps more encouragingly, over two-thirds of US companies have now reported third quarter results which have been above or met expectations as well as earnings which have even been 5.9 % higher than forecast, according to Thomson Reuters Starmine data.
Thus, in the context of tightening regulations, banking scandals and countries nearing the end of their financial tether, investors can at least take comfort in the fact that many US companies are still managing to ride the current slowdown in global growth surprisingly well.
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