US Market And Euro Now Trade In Tandem

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published

The euro was under siege in the spring and sold down to $1.17. The S&P 500 rose during the same period from 1,100 in early April to 1,210 in late May. Wall Street expected large American companies to post substantial earnings improvements for the second quarter on cost cuts and sales recoveries matched to GDP improvement.

More recently, the euro and and US stock market have traded in tandem. Global capital market investors believe that the financial fortunes of Europe have improved, notwithstanding trouble in Ireland and Spain. Most large cap US companies are expected to post good Q3 earnings, although much of that may be due to ongoing tightening of expenses and workforce cuts.

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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