Stock Market Today: Dow Powers Higher As Solid Earnings Offset Inflation Concerns
Earnings Are 'Looking Pretty Good,' Says This Portfolio Manager
The market is rallying on Thursday, Oct. 14.
TheStreet's Martin Baccardax noted that this rally comes a day after a faster-than-expected reading for September inflation in the United States, which returned to a 13-year high, and minutes detailing the Fed's aim of tapering the pace of its $120 billion in monthly bond purchases later this year, and investors now how a much-clearer picture of both the macroeconomic backdrop and the central bank's likely reaction.
The minutes noted that FOMC members "generally assessed that, provided that the economic recovery remained broadly on track, a gradual tapering process that concluded around the middle of next year would likely be appropriate."
The market also got earnings from companies including Dow components UnitedHealth Group (UNH) …
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