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Global stocks held close to 9-month highs on Wednesday with Europe seeing some falls in choppy trading on cautious words from Federal Reserve Chairman Ben Bernanke, who said unemployment would remain high into 2011.
Shares had a 7-day winning run on better-than-forecast results from companies, but experts tell CNBC that actually analysts' expectations were very low.
Be Analytical of Strong Earnings Results
Company earnings need to be analyzed case by case, says Karl Eggerss, chief trader at LafferFrishberg.com. He tells CNBC that U.S. companies are "beating" very low expectations.
US Will Lead Recovery
The U.S. has only spent a quarter of its stimulus package and the rest will kick in in the coming months to help the economy, says Michala Marcussen of Societe Generale Asset Management. She also expects a second, but smaller, stimulus plan in 2010 to ensure a sustained U.S. recovery.
Signs of Economic Pick-Up Seen
There are clear indicators of a pick-up in demand in the economy, says Shane Oliver, head of investment strategy and chief economist at AMP Capital Investors. He tells CNBC that these include the turnaround in the Chinese economy, U.S. housing sector and the auto sector.
Recovery Expected in 2010
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