This year on Wall Street, the bears have been cowed by the bulls. The relentless rally that has carried stock indexes to new highs while defying all the perfectly plausible reasons for it to falter has predictably gored short sellers ? who, as usual, have been massed against a relatively narrow group of expensive or fundamentally suspect stocks.
Boeing's problems with its 787 have made headlines, but they haven't hurt profits. The aero space giant posted a bigger-than-expected second-quarter profit as it ramped up deliveries of commercial planes like its 737 and its 777.
U.S. stocks were flat as results from blue-chips Caterpillar and AT&T offset gains for the tech sector generated by Apple's stronger-than-expected results.