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Stocks set to climb higher

|Includes: AMZN, AXP, MSFT, United Parcel Service, Inc. (UPS)

Stocks managed to climb higher last week as investors welcomed better-than-expected results from UPS (NYSE:UPS), Microsoft (NASDAQ:MSFT), American Express (NYSE:AXP) and others. The overall impression was encouraging — most companies have topped expectations, though revenue hasn’t been as robust as many analysts had hoped. Tech stocks ended up with several sector leaders cutting losses as the sector rallied with the broad market following results of stress tests of European banks. Microsoft (MSFT) beat analyst estimates with its after-the-bell report Thursday but the stock fell Friday. There were companies that disappointed, such as (NASDAQ:AMZN), shares lost 1%.
QQQQ chart
FEAR METER: The S&P500 implied volatility lost more than 10 percent, closing out the week below 24.