US majors posting strong gains

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Tuesday, 26 October 2010

Rising sales at companies including package delivery giant UPS, planemaker Boeing and railroad CSX Corporation show US businesses are growing ahead of the next round of Federal Reserve monetary easing.

About 85 per cent of companies in the Standard & Poor's 500 Index have exceeded Q3 analysts' per-share profit estimates.

The earnings come amid general 'caution' messages about the US economy.

"The market is telling us it's not all doom and gloom," said IHS economist Nariman Behravesh.

The firms' profits reportedly are driven in part by strong overseas growth.