Maze cartoon of one person whispering to the other, "PSSST, Carl, I think they are going to hit Iran."
By Yonatan Frimer
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"If we can get some confirmation from the earnings and then the stocks rally on that, it will be a very good sign that we'll have a decent summer," said Blair Falconer, portfolio manager at HSBC Securities.
North American markets finished higher last week, with the TSX up 3.34 per cent and the Dow industrials ahead 5.28 per cent as bargain hunters moved in following big slides of over four per cent the previous week.
NEW YORK — Analysts are raising earnings estimates for U. S. companies at the fastest rate since at least 2004 during a quarter when stocks have posted some of their biggest losses in 16 months on concern that the economy will sink back into a recession.
Profit for companies in the Standard & Poor’s 500 Index now are expected to jump 34 percent this year, according to more than 8,000 estimates compiled by Bloomberg. On March 29, the projected increase had been 27 percent. The revision is the greatest during any quarter in at least six years.
But lower-than-forecast home sales, manufacturing and private-sector job growth have sent the benchmark gauge for U. S. equities down 11 percent since hitting 1,217 April 23, despite last week’s rally.
Reuters) - U.S. President Barack Obama signed into law on Thursday far-reaching new sanctions on Iran that aim to squeeze the Islamic Republic's fuel imports and deepen its international isolation.
Obama said the new sanctions were the toughest ever passed by the U.S. Congress and would make it harder for Iran to buy refined petroleum as well as goods and services to modernize its oil and natural gas sector, the mainstay of its economy.
While the door to diplomacy remained open, he said, Iran would come under even greater international pressure if it continued to defy international calls to halt its uranium enrichment program.
The United States and its European allies suspect Iran is trying to build an atomic bomb, despite Tehran's insistence that its nuclear program is for the peaceful generation of electricity.
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