Stocks extend rally as U.S. companies report solid profits

Stocks rose on Wall Street, adding to weekly gains for major indexes that have been mired in a broad slump amid inflation and recession concerns. Major indexes also notched significant gains to open the week on the strength of better-than-expected corporate earnings.

Goldman Sachs posted quarterly earnings of $3.07 billion, easily beating Wall Street expectations and shares are up almost 3%. Elsewhere, a release of China's most recent economic growth figures due out Tuesday was postponed, removing one factor that had been expected to drive trading. No specific reason was given, but the GDP report might have conflicted with the confident tone of a Communist Party congress being held in Beijing.

"We do not believe the conditions are in place for a sustained rally, and the risk-reward for markets over the next three to six months is unfavorable, in our view," Mark Haefele, chief investment officer at UBS Global Wealth Management, said in a note. Investors worry that inflation is driving the risks for recession higher as the Federal Reserve and other central banks raise interest rates to cool surging prices.

...'solid corporate profits'. It's a short step to actually report on how there are record corporate profits and price inflation. Consumers are getting the shaft and corporations are working hard to influence elections to keep GOP tax breaks.

For now, the Market is still down $7.2 Trillion since Biden took office. It will drop again as the Fed raises interest rates. Democrats have caused the majority of these problems. Too bad the mainstream media refuses to report actual data. Activists have replaced journalists.

Do you think oil and gas companies would not be doing well? You can bet that if oil, gas, and energy are doing well, the others are, too. Only the poor and the struggling middle class are doing bad... the people who vote, thinking they have something to vote for.

Remember those solid corp. earnings and high inflation the next time someone complains about the Fed continuing to tighten.

Investors know the wacko democrats and the Biden administration will lose big this November that is why the markets are up. Americans will still be suffering for years under the Biden recession.

Solid corporate earnings on the backs of Americans. Greed while Americans can’t afford to feed their children

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