We detailed Google parent Alphabet’s better than expected earnings report last night, but it is worth noting the market’s apparently manic reaction to the data.
First things first, Alphabet is up 12% since last night’s close…
This is the biggest daily rise since July 2015 (Q2 earnings) and is dragging Nasdaq higher (despite AMZN’s weakness)…
Heading back towards record highs…
Adding almost $80 billion in market cap…
There’s just one thing… Despite the stock’s gains, earnings expectations for 2019 have cratered.
Probably nothing.
via ZeroHedge News https://ift.tt/2ZbNfWF Tyler Durden