Daily Economic Indicator: Upbeat earnings news forces investors back into stocks

07/22/2009 | Financial Times (free content)

Upbeat earnings news from Caterpillar, DuPont and Apple lifted markets Tuesday and gave investors hope that the worst of the recession may be over. The positive earnings news comes a week after several banks also beat analysts' estimates when announcing their second-quarter results. "Everyone is now looking for growth in the economy, and people who were underinvested in stocks are being forced back into the market," said Anthony Conroy, head equity trader for BNY ConvergEx.

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