Big week for earnings leads equities higher
The post Big week for earnings leads equities higher appeared on BitcoinEthereumNews.com. S&P 500 gained 0.45% last week, its second positive week in a row, but sold off on Thursday, Friday. Earnings season takes center stage as Tesla, American Express, Johnson & Johnson and Goldman Sachs report. S&P 500 index closed Friday near support from June 26 near 4,328. September Retail Sales will be reported on Tuesday, Fed Chair Powell speaks on Thursday. Bank earnings from Wells Fargo, JPMorgan and Citigroup have raised expectations for this week’s slew of releases. The S&P 500 index has risen 0.8% at the start of Monday trading as investors ignore higher US Treasury yields in favor of a large schedule of third-quarter results this week from some of the larger companies in the index. The index gained 0.45% last week despite a severe sell-off on Thursday and Friday, which cut its performance in half. A spike in oil prices and US Treasuries caused by heightened worries about the Israel-Gaza hostilities led the S&P 500 closing on Friday much lower than Wednesday’s close. However, earnings on Friday from a number of the nation’s biggest banks, such as JPMorgan (JPM), Citigroup (C) and Wells Fargo (WFC), helped the Dow Jones index edge out a gain. This week the index should likely rebound with a heavy load of major companies reporting third-quarter earnings results. While Monday has a rather light showcase, Johnson & Johnson (JNJ), Bank of America (BAC) and Goldman Sachs (GS) report on Tuesday. This will be followed by Tesla (TSLA), Morgan Stanley (MS) and Netflix (NFLX) on Wednesday. Later in the week, Union Pacific (UNP), American Express (AXP) and Taiwan Semiconductor (TSM) join the mix. US Retail Sales for September on Tuesday will be followed by a significant speech by Federal Reserve Chair Jerome Powell on Thursday. US Treasuries are seeing their yields increase across the yield…
The post Big week for earnings leads equities higher appeared on BitcoinEthereumNews.com.
S&P 500 gained 0.45% last week, its second positive week in a row, but sold off on Thursday, Friday. Earnings season takes center stage as Tesla, American Express, Johnson & Johnson and Goldman Sachs report. S&P 500 index closed Friday near support from June 26 near 4,328. September Retail Sales will be reported on Tuesday, Fed Chair Powell speaks on Thursday. Bank earnings from Wells Fargo, JPMorgan and Citigroup have raised expectations for this week’s slew of releases. The S&P 500 index has risen 0.8% at the start of Monday trading as investors ignore higher US Treasury yields in favor of a large schedule of third-quarter results this week from some of the larger companies in the index. The index gained 0.45% last week despite a severe sell-off on Thursday and Friday, which cut its performance in half. A spike in oil prices and US Treasuries caused by heightened worries about the Israel-Gaza hostilities led the S&P 500 closing on Friday much lower than Wednesday’s close. However, earnings on Friday from a number of the nation’s biggest banks, such as JPMorgan (JPM), Citigroup (C) and Wells Fargo (WFC), helped the Dow Jones index edge out a gain. This week the index should likely rebound with a heavy load of major companies reporting third-quarter earnings results. While Monday has a rather light showcase, Johnson & Johnson (JNJ), Bank of America (BAC) and Goldman Sachs (GS) report on Tuesday. This will be followed by Tesla (TSLA), Morgan Stanley (MS) and Netflix (NFLX) on Wednesday. Later in the week, Union Pacific (UNP), American Express (AXP) and Taiwan Semiconductor (TSM) join the mix. US Retail Sales for September on Tuesday will be followed by a significant speech by Federal Reserve Chair Jerome Powell on Thursday. US Treasuries are seeing their yields increase across the yield…
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