Market Ignoring Strong Earnings

What a frustrating week! Earnings season is living up to lofty expectations with some very impressive numbers, as approximately 80% of S&P companies have beaten expectations. But the market just doesn’t seem to care. 

A strong Friday session could have given the major indices a positive weekly performance.

Instead, two of the major indices could muster only anemic gains, while the third couldn’t even do that. And these results come in the wake of Amazon doubling profits year over year, along with better than expected results for GDP and consumer sentiment. 

At the end of the day, the S&P rose only 0.11% to 2669.9 for a slightly negative week. The NASDAQ inched forward by 0.02% to 7119.8 and the Dow declined 0.05% to 24,311.2, marking weekly losses of 0.4% and 0.6%, respectively. 

The editors are as annoyed as anyone by this market right now, but they are overall pretty positive that stocks will pick an upward direction soon. We saw this optimism in the portfolios today. Home Run Investoradded an energy name while TAZRbought a bullish ETF as a bet on rising tech stocks. Tracey added two names to Insider Traderand Value Investoreach, while also pulling a double digit profit from the latter. Learn all about these moves in the highlights section below: