S&Ps taking out top
“Both issues have played out better than expected and markets have thus started to regain confidence over the past few days,” Waser said.
In the U.S., the University of Michigan’s preliminary consumer sentiment index will probably show confidence remained at an 11-year high in February, according to economists surveyed by Bloomberg.
Earnings for S&P 500 companies rose 4.1% last quarter, while sales gained 1.4%, according to analysts’ forecasts compiled by Bloomberg. About two-thirds of the S&P 500 companies have reported so far, with 76% beating profit estimates and 56% topping sales projections, data compiled by Bloomberg show.
CBS Corp. added 3.5% as fourth-quarter results that beat estimates, buoyed by higher advertising sales and rising fees from both local broadcasters and pay-TV services.
King Digital Entertainment Plc rose 22% after sales of titles other than Candy Crush Saga increased.
American International Group Inc. fell 2% after operating earnings per share missed analyst projections.
Zynga Inc. tumbled 13%, after dropping 5.3% yesterday. The maker of the mobile video game FarmVille projected first-quarter earnings that trailed analysts’ estimates and said it will close its Beijing office.