. Goldman and Bank of America's results topped analyst expectations. However, Wells Fargo and United fell short of estimates.
"Market volatility is set to continue in the weeks ahead as investors brace for a host of uncertainties—the timing of vaccine availability , the size and timing of additional US fiscal stimulus, and the election outcome," wrote Mark Haefele, chief investment officer of global wealth management at UBS. "The uneven recovery in the US economy also adds to investor concerns as the results season kicked off this week.
The uncertainty surrounding the aid talks led to the market's second straight daily decline Wednesday. The Dow slid more than 160 points, or 0.6%. The S&P 500 and Nasdaq Composite pulled back by 0.7% and 0.8%, respectively. Wednesday marked the first time since September that the major indexes posted consecutive daily losses.
"This is the second earnings season in the wake of the Covid-19 pandemic ... and arguably this will be one of the most important earnings seasons ever," wrote Jeff Kilburg, CEO at KKM Financial. "As investors globally try to gauge the actual damage inflicted upon the economy by Covid-19, expectations are simply that earnings will not be as bad as they were in Q2."
"In the event we have an overall positive tone transmitted, I believe the path for U.S. equites is higher," Kilburg added.for exclusive insights and analysis, and live business day programming from around the world.
Trump will be better for everything. Red wave coming!
Guy is naive if he thinks they are both the same. Does a biotech industry exist in Cuba?
It’s actually a CEO thing on how stocks perform. Presidents can change tax laws that affect companies but they can’t make internal decisions. Lame question
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