Are Earnings Catalists for the Stock Market?

Cagen: I think earnings are also going to be a very important catalist. And it's a question of not so much what the street expects, but what investors expect. So if we look at a the most recent kind of cu for earnings that have been released so far, i think am generally speaking, beats were punished a little bit and losses were punished severely. That means even the beats on an average, were not quite what investors expected.