from Elliott Wave International
It is earnings season, and most investors are paying close attention (Reuters, Oct. 9):
“If there’s something that can help the outlook for earnings, then it is going to be good news for the stock market. It is the most important variable,” said [a] chief investment officer.
The belief that earnings drive stock prices permeates Wall Street. That sentiment was also expressed in an Oct. 21 CNBC article:
Strategists are watching whether earnings growth will sustain further gains in the market.