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00:00:00
>>
SOUND] U
stocks surging Monday, riding a rally of relief in overseas stock markets after Marine Le Pen came in second place in round one of France's presidential election, as investors had bet. But Reuters' Markets editor Dan Burns says there's more to Monday's gains.>> As long as the election came out as scripted you could forget the election.
00:00:22
You can forget the worries about the Trump trade. This is the busiest week for US earnings in nearly a decade. We've got nearly 200 members of the S&P 500 reporting this week. We are already, before this, on track for better than 11% year-over-year profit growth, the best since 2013.
00:00:44
>> And each day, that growth estimate seems to tick up a little bit.>> Google's parent company, Alphabet, one of the biggest gainers of Monday's rally, will post earnings on Thursday, along with Amazon, Microsoft, and several other of the biggest companies in the US. And if like the French election, earnings play out as forecast this week, Vern says Monday may not be the only banner day.
00:01:06
>> You gotta remember who's led the rally so far this year. It's been tech. Right now, we're nearing in on 6,000 for the NASDAQ. The likes of Apple is up 20% since Trump took office alone. Amazon is up 15%, so in order to justify these stock performances you need the earnings to back it up.
00:01:29
So Thursday, on that front is a really, really, important day for us this week.>> The Dow, NASDAQ, and S&P500 all closing up more than a percent on Monday.