Economy
Related: About this forumGet ready for an awful earnings season
Brace yourself: According to estimates compiled by FactSet, analysts predict that earnings for the S&P 500 plummeted nearly 45%, which would be the biggest drop since a 69% plunge during the depths of the Great Recession in the fourth quarter of 2008. Revenues are expected to have fallen more than 10%. Retailers, energy companies and industrial firms likely reported the biggest declines in sales and profit.
Financial firms take center stage this week. JPMorgan Chase (JPM), Wells Fargo (WFC), Goldman Sachs (GS), Bank of America (BAC) and BlackRock (BLK) are just a few of the big banks and asset managers that will post their latest results.
more: https://www.cnn.com/2020/07/12/investing/stocks-week-ahead/index.html
And yet, DOW futures are right now +110: https://money.cnn.com/data/premarket/
Hoyt
(54,770 posts)I suspect it will wake some folks up to the realities.
TheFarseer
(9,308 posts)The headline could be not as bad as we thought or they might say we already knew it would be bad It could go higher despite poor earnings. The only thing that matters is if traders think prices are headed higher or lower and believe me, theres no telling that!
empedocles
(15,751 posts)gristy
(10,667 posts)But with the Nasdaq at an all-time high and the DOW down "only" 8.8% from its all-time high, it would seem to this bad prognosticator (i.e., me) that they are not.
progree
(10,864 posts)Yes, it doesn't make sense, particularly after 2 weeks of really bad news on the Covid front and reclosings and delayed reopenings.
progree
(10,864 posts)https://news.yahoo.com/big-obstacle-economic-recovery-child-140531497.html
Under the plan announced by Mayor Bill de Blasio this week, classroom attendance would be limited to only one to three days a week in an effort to protect public health. The citys approach is similar to that being followed by many school districts, which are concerned that crowded schools might intensify the outbreak.
And then about how many parents will be compelled to cut back their hours of work (or quit) to be able to close the childcare gap.
Warpy
(110,913 posts)start to scream bloody blue murder if a corporation tries to buy back a single share or give a single executive bonus.
I just don't know if it's going to do any good. They've been robbing shareholders on dividends for years. I sincerely doubt rebellion in the ranks will get through to them....until people get disgusted enough to sell.