U.S. investors returned to trading today in a much better mood than they finished off with last week. Today’s earnings slate helped to boost sentiment with no major negative surprises out of the banking sector, as Citigroup’s (C) TARP losses came in even with expectations, and First Horizon (FHN) reported an improvement in its loan loss provision. Industrial manufacturer Parker-Hannafin (PHN) posted strong earnings (62 cents vs. Street 34 cents) and guidance. The health care sector has also been rallying, led by Coventry Health (CVH) and Eli Lilly (LLY) ahead of a key Massachusetts senate by-election, which may have a major impact on pending health care legislation.In other words, the potential failure of health care reform is good news in the eyes of those arseholes.
Tuesday, January 19, 2010
According to this article, Nancy Pelosi is saying that health care reform will continue regardless of what happens tonight in Massachusetts. Not everyone agrees, though, as evidenced by this snippet from Stockhouse.com: