Waiting for Quarterly Results

This is often an interesting time in the market. It is the period between the end of the third quarter and waiting for the financial results to come in from businesses for the first nine months of the year. It appears that the expectations for improved earnings are running very high. It is clear that the "Cash for Clunkers" program gave a robust push to July and August for auto makers. Retailers are indicating that September was better than what they had expected. The newest job loss numbers released today were also better than expected. All and all, the markets are basking in a very pleasant light. If results come in as expected it will be a good sign for the economy. You always wonder when everything seems to be going better if one item not going according to plan will upset the apple cart. Between now and early November we should get a clearer picture. Ed Mallon