Corporate profits

Corporate earnings season is kicking off. Corporate profits have been the engine behind the stock market's recent rally, but there's worry on Wall Street that earnings are losing momentum.

"What goes up must come down" was true with dot-com stocks and the residential housing market. Investors should understand that the same fate lies ahead for corporate profits, argues James Montier of the investment management firm GMO.

When there's nothing better to do, Wall Street finds something to obsess about. Today, it's profits.

The U.S. Labor Department this morning announced weekly jobless claims fell to 383,000, the lowest level in nearly three years....

And this final note. We talked earlier with John Cassidy about what's changed on Wall Street in the two years since the financial meltdown....