Oct 30

The idea of earnings driving the broad stock market is a myth.
It's corporate earnings season again, and everywhere you turn, analysts talk about the influence of earnings on the broad stock market:
* US Stocks Surge On Data, 3Q Earnings From JPMorgan, Intel (Wall Street Journal)
* Stocks Open Down on J&J Earnings (Washington Post)
* European Stocks Surge; US Earnings Lift Mood (Wall Street Journal)
With so much emphasis on earnings, this may come as a shock: The idea of earnings driving the broad stock market is a myth.
When making a statement ...





