After a long recovery back to record levels, the S&P 500 Index hit a speed bump last week, especially among some of the stocks in the information technology and other technology related sectors that had posted large gains since the market bottom in March. Thursday was the worst downside day of the week, down …
It was a quieter week in the earnings reporting cycle with only 16 companies in the S&P 500 Index reporting earnings. The last big announcements come this week with some major retailers reporting earnings. With 457 companies in the S&P 500 having reported second quarter earnings to date, 81% have reported results above consensus. …
Heading into the tail-end of the second quarter earnings season, 441 companies in the S&P 500 have reported earnings with 82% reporting results above consensus. This is better than the long-term average of 64.9%. A fourth consecutive better than expected week has moved current consensus for second quarter S&P 500 earnings to down 31.7% …
Second quarter Gross Domestic Product (GDP) for the U.S. saw a record contraction of 32.9% as the April through June time period was hit by the COVID induced business shutdowns and stay at home orders. While the large decline is sobering, it is also likely to be short-lived as economic data has been improving. …
We’re expecting a great deal of news flow this week with 189 companies in the S&P 500 Index scheduled to report second quarter earnings, the Federal Reserve meeting taking place on Wednesday, and the first look at Second Quarter Gross Domestic Product (GDP) scheduled for release on Thursday. Additionally, the enhanced unemployment benefits are …
The second quarter earnings reporting period kicked-off last week. While earnings should be significantly lower for many companies due to the COVID related shutdowns, some favorable results relative to these dire expectations pushed the S&P 500 Index to an up week. Of the 47 companies in the S&P 500 Index that have reported second …
This week we will start to see the companies reporting second quarter earnings show us their cards. Due to uncertain outlooks at the height of the COVID back in April, more than 180 companies in the S&P 500 Index declined to provide earnings guidance, so we may have a wider range of outcomes than …
Positive economic data continues to provide an optimistic catalyst to the stock market. The June ISM Manufacturing Index moved back up to 52.6 indicating economic expansion. The June employment report showed nonfarm payrolls of 4.8 million which were well ahead of expectations and built on the 2.7 million jobs created in May. The unemployment …
While the economy still has room for improvement, the stock market has staged an impressive recovery. Coming off the March low, the S&P 500 Index has advanced 45%. The containment of COVID-19, Federal Reserve’s actions to provide liquidity into the financial system, and continued incremental positive news on the opening of the economy have …
Coronavirus fear ebbed early in the week allowing investors to focus on good corporate earnings growth and a strong January employment report. Deaths in China from the coronavirus have now surpassed SARS (>811) but when considering the current U.S. flu season has seen over 10,000 deaths we can see things in better perspective. Still, …
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