My folks are in town this week. Last night we were sitting around the couch chatting when an alert on my phone went off. I looked down to find a notification from the Wall Street Journal waiting for me. I went quiet as a subtle smile crept across my face. My father asked, "what's up?" I looked up and said "well, tomorrow might be a good day in the markets after all."
I had been watching corporate earnings after the bell earlier in the afternoon and was a little apprehensive after seeing Citigroup revise its earnings lower. Citi cited evolving regulatory investigations as the reason for factoring in an additional $600 million in legal costs. This took earnings per share for the quarter down by 19 cents. A couple other companies including Groupon and LinkedIn also provided weaker than expected forward guidance. We've staged an incredible rally lately and I figured the ... Log in or subscribe to continue reading.