We are entering the first big week of earnings reports this week. Last week the banks reported much better than expected earnings, but the stocks traded down. Technology, as a group, has been extremely strong this year. Microsoft (MSFT) is the first “real” technology company to report on Thursday. The consensus calls for just 3% earnings growth for MSFT and the stock has a P/E multiple of 23.4x 2017 earnings.
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Market in a Minute 2017-7-18