Luxury homebuilder Toll Brothers reported strong earnings and forecasted solid guidance going forward in yesterday’s corporate earnings release. Rising orders along with a healthy economy sent completed sales up 18% from a year earlier. The company reported earnings per share of $1.26, well above the $1.03 expected. Douglas C. Yearley, Jr., Toll Brothers’ chief executive officer said, “Our double-digit growth in revenues, contracts and backlog and our strong earnings reflect the health of the new home industry in general and our unique position in the luxury market.”
U.S. Stocks are in the midst of the longest-ever bull market in American history. Fueled by tax cuts, solid economic growth, relatively low interest rates, strong corporate earnings and sky-high consumer confidence, the current bull-market that began on March 9, 2009, has lasted nine years, five months and 13 days … the longest stretch ever. The closely watched S&P 500 Stock Index is just six points below its all-time closing high of 2,872, hit back on January 26.
