Friends
Earnings season kicks off in earnest this week, with big financial names leading the way. Citi reported good numbers today (despite the less than enthusiastic share price response), and we’ll get a look at JP Morgan and Goldman Sachs tomorrow. As the week goes on we’ll get reports on Bank of America, Morgan Stanley, Blackrock, State Street and Comerica. Other big names that report this week include Johnson & Johnson, United Airlines, Abbott Labs, eBay, Netflix, American Express, Microsoft, Honeywell and Schlumberger. Remember, watch how the shares respond to the earnings release of each company. There’s your tell.
As for today, as was quiet with the Dow Jones Industrial Average up 27 points to close at 27,359. The S&P 500 was up a fraction to finish the day at 3,014. Gold was up $3 to trade at $1,415 per ounce, while oil was down $.80 to trade at $59.41 per barrel WTI.
With the Fed action a couple of weeks away, earnings are likely to be the main ingredient to market moves over the next couple of weeks. Let’s see what corporate America has to say for themselves. Stay tuned.
Have a nice evening everyone.
