A mixed message from earnings and the economy

Market observations for the week of July 12 to July 16, 2010

Claymore Investments, Inc. 20 July, 2010 | 1:00AM

The major market indices finished the week modestly lower as concerns over the state of the economic recovery outweighed the strong start to second-quarter earnings season.

Last week several bellwether companies beat earnings expectations and issued upbeat forward guidance. Such positive news would usually be a catalyst for market outperformance; however, the data seems to conflict with recent economic reports that suggest the economic recovery may have hit a wall.

While we continue to believe that earnings season could be a segue to a period of near-term market stabilization, the growing confusion between what corporations are telling us and what the economy is saying could lead to some choppy trading in the near term.

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Claymore Investments, Inc.

Claymore Investments, Inc.  

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