The Dow rose for its seventh straight session yesterday; it’s first since April of 2007. The Dow has gained around 9.5% during this streak. Much of this momentum can be attributed earnings topping the consensus view. Some of the companies to do so include: Apple, Caterpillar, Starbucks, Boeing, Pfizer, Whirlpool, PepsiCo, Eli Lilly and Altria to name a few.
With such a strong run recently, it would not be too surprising to see some profit taking by traders. Today, U.S. stock futures point to a lower open with much of the focus on Merrill Lynch and Wells Fargo’s earnings results. Both fell in premarket activity, even though Wells appeared to top analysts expectations.
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