JPMorgan Chase surprises on earnings–but not in the way that markets had hoped
This morning JPMorgan Chase (JPM) reported a “surprise” jump in earnings in the third quarter. The problems in that “surprise” were in the nature of the surprise. A good part of the “surprise” wasn’t a surprise. The bank...
Earnings season starts tomorrow morning with JPMorgan Chase and Citibank
The big banks kick off third quarter earnings reports tomorrow, Tuesday, October 13 with JPMorgan Chase (JPM) due to report before the open. The analyst consensus is that the bank will earn $1.93 a share, down from the $2.68 a share earnings in the September quarter...
Markets have a case of the earnings season “nerves” today
As of 1 p.m. New York time the Standard & Poor’s 500 is down 1.88% and the Dow Jones Industrial Average is off 2.14%. The NASDSQ Composite is lower by 0.79% and the Russell 2000 small cap index has tumbled 2.80%. The iShares MSCI Emerging Markets ETF (EEM)...
The deluge of cuts to earnings estimates has started–but Wall Street remains optimistic–perhaps too optimistic–on Q1 estimates
I opened my online brokerage account yesterday to see an endless stream of news briefs about Wall Street analyst cuts to earnings estimates for the first quarter earnings season that begins next week with earnings from JPMorgan Chase (JPM) and Wells Fargo (WFC) on...
Watch out for a wild Thursday (and maybe even Wednesday)
The U.S. stock markets are closed on Friday, April 10, for Good Friday. That sets up a short week and a long weekend–which would be likely to produce higher than normal volume and volatility on Thursday anyway as traders and investors bought and sold to position...
Today earnings and coronavirus news battled to a draw in the U.S. stock market; tomorrow?
The Standard & Poor’s 500 finished the day down a scant 0.09%. The Dow Jones Industrial Average was up 0.04%. The NASDAQ Composite was ahead 006$% and the Russell 2000 small cap index dropped 0.55%. The iShares MSCI Emerging Markets ETF ended the day higher...
No end to selling as coronavirus news, profit-taking drive downward move today
The news from China and about the coronavirus continues to get worse. The death toll has climbed to 82, and at least 2,800 cases have been reported in China. And it doesn’t look like the outbreak has been contained with health experts questioning the efficacy of...
Bet you’ve forgotten: Earnings season starts next week with the big banks
What with everything going 0n, I wouldn’t be surprised if the start of earnings season next week has slipped your mind. Reports of fourth quarter earnings are actually fairly important this year because stocks trade near all time highs and estimates say that...
Too much news for the next three weeks
Busy, busy, busy. Here’s what we know to be on tap for the rest of October as of today October 7. U.S.-China trade talks are set to resume on Thursday, October 10. That means a switch from a period when both nations were issuing statements and policy steps...
In the shortish short term does anything matter for U.S. financial markets except for the Fed?
Think about it this way: The bulk of investors and traders believe that the Federal Reserve will cut interest rates at both the July 31 and September 18 central bank meetings. A significant minority believes that the Fed will deliver more than just two 25 basis point...
Can earnings be the catalyst to take markets higher? Not this quarter, at least
Join me on my search for the elusive catalyst that could take U.S. stocks higher from what is already an all-time high. Quiet, though, catalysts can be very shy. Peaking through the bushes surrounding the water hole, I can see signs of company earnings. The big banks,...
Earnings season draws to a close–with another (slight) warning
As of this morning, more than 75% of the companies in the Standard & Poor’s 500 stock index have reported fourth quarter earnings. As per usual, the bulk of companies have beaten Wall Street earnings estimates. (This is just a game that Wall Street and CEOs...
Market reaction to big bank earnings not good way to start earnings season
Earnings from Citibank (C), JPMorgan Chase (JPM), and Wells Fargo (WFC looked solid this morning but the more the market thought about them the more disappointed it got. The Financial Sector Select SPDR ETF (XLF) was up 1.6% in the early going but as of 2:30 p.m. New...
Caterpillar says “Never mind” about “high water mark” comment that spooked stocks so badly on April 24
On April 24 Caterpillar (CAT) reported first quarter earnings before the New York markets opened that easily beat analyst projections. And the company raised its guidance for fiscal 2018 to earnings per share of $10.25-$11.25 from a previous $8.25-$9.25. The stock...
Earnings season “enthusiasm” has kicked in
The Standard & Poor’s 500 stock index rose 1.07% to the highest level in four weeks, pushing above its 100-day moving average for the first time in a month. The Dow Jones Industrial average closed up 0.87% The gains in the index are in spite of continued...
Netflix modest earnings beat and big positive after-hours reaction good news for earnings season market
Netflix (NFLX) shares were down 1.24% during the day as investors and traders seemed to be positioning themselves for an earnings miss. (Netflix doesn’t have a record of turning in earning surprises–probably because Wall Street is so positive on the stock....
Netflix rally on earnings tells us more about how complacent this market than about Netflix
This market remains determined to rally as we head into earnings season. Look no further than the reaction to earnings from Netflix (NFLX) for evidence. The stock market could have reacted to yesterday’s earnings from Netflix (NFLX) by selling down the shares....
Will third quarter earnings support record prices in stocks?
I know it’s quaint, but let’s take a look a fundamentals–specifically estimated earnings for the third quarter of 2017. With stocks near record highs, it would be reassuring if the quarter was showing solid forecasted earnings growth. Here’s...
Market reaction to Microsoft isn’t making me jump up and down ahead of Facebook, Amazon earnings next week
In my Saturday Night Quarterback post last weekend on my subscription site JubakAm.com, I said that I was looking for Microsoft’s (MSFT) earnings, reported after the close yesterday, July 20, for clues on how the U.S. stock market would react to earnings reports...Update Cummins (CMI)
I’m starting to see a new pattern in third quarter earnings reports.  Now to see if it continues through the end of earnings season. What’s the potential pattern? Companies that announce great earnings but that still don’t measure up to Wall Street expectations. The...Intel's earnings bring a sigh of relief, if not excitement, to technology stocks
Solid. I’d say Intel’s (INTC) third quarter earnings report, released after the market close yesterday, October 12, is more likely to be greeted with a sigh of relief than a gasp of pleased surprise. Earnings for the third quarter came to 52 cents a share. That’s 2...PepsiCo starts earnings season with a thud
Oh, no PepsiCo! This isn’t the way to start off third-quarter earnings season. Before the New York Stock Exchange opened this morning, October 7, PepsiCo (PEP) reported third quarter earnings of $1.22 a share, exactly matching the Wall Street analyst consensus....Movement without direction: That was the stock market story last week but it's about to change
The Standard & Poor’s 500 stock index closed on Friday September 24 at 1149. The index closed on Friday October 1 at 1146. That’s a net move of 3 points in five trading sessions. For the past week stocks have been stuck in a rut. Spinning their wheels. As stagnant...Jim’s Daily Email Alerts:
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