Approximately half of the S & P 500 companies have reported their earnings so far — and the magnitude of their average earnings-day move has been larger than normal, according to Goldman Sachs. The average earnings-day move for companies had an absolute value of 4.2%, the firm said in a Tuesday note. Typically, the average absolute value is 3.5% on a like-for-like basis. Options-implied moves also have been moving at a higher level, with a magnitude of 5.8%, above the long-term average of 4.
Morgan Stanley auto analyst Jonas says investors are ‘waking up’ to idea that Ford, GM are not a way to play EV boom