Wall Street’s got coronavirus relief on the brain, and the fervent attention on Congress signing off on additional fiscal aid has detracted from the busiest coming stretch of quarterly corporate earnings of the quarter.
But next week’s earnings reports bear watching because some of the biggest companies will be reporting results, with many expected on Thursday, including the majority of a contingent of stocks known as FAANGS. So far, however, S&P 500 blended earnings, including actual results and forecasts, show a decline of 16.5% in the third-quarter, with 27% of companies reporting. If that level of deterioration in earnings eventuates, it would represent the second-steepest year-over-year earnings decline since the second-quarter of 2009 when it declined by 26 .9%.
All that said, earnings and the prospects for good results down the road won’t exactly ameliorate worries that coronavirus cases are rising in the U.S. and Europe in particular, while economic growth remains wobbly amid the pandemic. A report released Friday but the Leuthold Group implies that reaching record EPS results in 2021 is achievable if technology and health care helps to drive the market higher, after a big rally in stocks in the information technology sector following the lows seen in March this year as the coronavirus pandemic hit.
Capitalism in 'virtual reality ' is the same as our America's freedom in Communist China. Don't get it ? Feel free in lock down ?
Going to be one hell of a week. Really looking forward to it like kids get excited for treats.
IRS_CI, SEC_Enforcement, allowing Automobile companies to change dealer names & void warranties, not pay Tax on gain of not servicing those warranties. Fraudulent SEC Filings IRS_CI Destroyed documentation 2020-007235 TIGTA TRN-2009-0433 & TRN-2010-0201
So it’s gonna be a good week then...jimcramer should we purchase more shares of an S&P ETF, monday at open?
It’s going to be nuts
And greedy!
Investors wanted
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