The JP Morgan results announced yesterday were more than enough to push the Dow Jones past the 10000 mark after nearly a year gap. The company announced a six fold increase in net profits and has also projected a higher profit in the current quarter.
Many other US biggies are set to announce their September 2009 quarter results in coming days. And one or two of them might announce lower than expected profits, and can cause a fall in the stock markets across the globe.
Over the last three months the global markets have gone up substantially and most of them are trading near 52 week high levels.
All of them need a reason to crash and one of the US biggies might just provide that in the next two weeks.