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Stocks cruised to yet another set of record highs last week on strong earnings from Caterpillar Inc. (NYSE: CAT) and 3M Co. (NYSE: MMM), in particular. Materials and information technology were key with better-than-expected earnings, strong results, and even stronger guidance (meaning what they see ahead).
As of the time I'm writing this, 77% of companies reporting have beaten expectations, and 79% have beaten revenue estimates – both according to FactSet.
I'm not surprised – and you shouldn't be either – considering that we laid out this scenario months ago, and we've been preparing for this for years with all manner of profitable recommendations.
At the risk of sounding like a broken record, growth will continue to be faster and stronger than many people expect – which is going to put the markets and most investors in a position of having to play catch up.
That's great for your money because it means the most hated bull market in history can go a lot higher. I think we're talking Dow 60,000 within a decade for reasons I laid out in an article you're going to want to read if you haven't already.
In the meantime, there's one sector attracting more money faster than all the rest. And, as always, I've got a recommendation I think you're going to find very exciting.
Key Takeaways
- The market has plenty of room to run higher on expected earnings, strong results, and even stronger guidance.
- Dow 60K sounds incomprehensible but is actually within reach when you understand why.
- The fastest movers are in a sector most investors left for dead long ago.
Last Week's Top Stories
- Position Your Money for Big Profits Before the Next Big M&A Announcement: Here I'll show you how to identify the next biggest M&A candidates and get your money there first. Here's what to look for…
- How to Trade the Next Crypto-Craze Crash: Bitcoin went into free fall the morning of Wednesday, Jan. 17, before coming to rest 52% lower than its all-time high. It's since bounced back a bit but – mark my words – this will not be the last cryptocurrency crash. It's important you know how to trade the next one when it happens. Here's what you need to do…
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About the Author
Keith Fitz-Gerald has been the Chief Investment Strategist for the Money Morning team since 2007. He's a seasoned market analyst with decades of experience, and a highly accurate track record. Keith regularly travels the world in search of investment opportunities others don't yet see or understand. In addition to heading The Money Map Report, Keith runs High Velocity Profits, which aims to get in, target gains, and get out clean. In his weekly Total Wealth, Keith has broken down his 30-plus years of success into three parts: Trends, Risk Assessment, and Tactics – meaning the exact techniques for making money. Sign up is free at totalwealthresearch.com.
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