Can the Dow Keep Winning?http://www.fool.com/investing/general/2012/01/19/can-the-dow-keep-winning.aspx David Williamson
January 19, 2012
January's hot start hasn't slowed down, as the markets put in a strong performance with all three major indices up yesterday. Despite mixed earnings results coming in, 2012 remains a positive year for investors. How Thursday fares will depend on the increasing flood of fourth-quarter earnings and pre-market releases of a handful of key economic statistics, most notably the Consumer Price Index (CPI) and housing starts.
But before we jump into this morning's events, let's cover how the three largest indices fared yesterday.
Yesterday was a great day on the market. The S&P crossed 1,300 for the first time since July, and the banking sector rebounded from Tuesday's poor showing. The 10-year Treasuries and oil both edged up slightly, while gold as suffered a minor decline. But as mentioned earlier, today could be a lot more turbulent as 81 companies report earnings, including five Dow components and significant markers speaking to the health of the American economy are released.
After Citigroup plunged 8% after disappointing with weaker-than-expected results, including a double-digit decline in earnings, investors had every right to be nervous heading in to Goldman Sachs' (NYSE: GS ) pre-market earnings announcement. Although the numbers weren't great, the influential investment bank managed to beat analyst estimates and shares popped nearly 7%. Good news coming out of the eurozone also buoyed the sector, as it appears Greece is close to reaching an agreement with its private creditors and the IMF is boosting its funding base by $600 billion with plans to help countries affected by the lin