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Chill Out Before Earnings Season Heats Up
Monday, January 16, 2017
On this Martin Luther King Jr. holiday in the U.S., markets are closed. This provides a good opportunity to take a breather ahead of Q4 earnings season, which resumes before the opening bell tomorrow.
Several big banks have already reported Q4 results Friday morning, and the best way to get a recap as well as a forward outlook toward upcoming earnings reports is right here — Solid Start to Q4 Earnings Season — by Zacks Director of Research Sheraz Mian. The Trump Rally had helped bid up bank stocks since early November, but rising interest rates are doing even a better job of keeping bank stocks in favor, and Q4 results don’t even completely price in the benefits of December’s quarter-point hike.
This week we continue to see bank earnings roll in: Goldman Sachs (GS - Free Report) , Citigroup (C - Free Report) and US Bank (USB - Free Report) all report before the bell Wednesday. That afternoon we start seeing reports from some big players in other sectors, with the Netflix (NFLX - Free Report) due out then.
Until then, take a look at where you are at this stage of the Trump Rally. Trump is now actually going to be president, and depending on the industry, we may see the headiness of promise in certain stocks start hitting the bumps of the real world soon — certainly more than we’ve grown accustomed to over the past couple months. It might be a good idea to see where you’ve made substantial gains over that time that look most vulnerable under this scope, and act accordingly.
Bigger than this, however, is still earnings season. Nothing will continue to push these very promising equities markets forward like solid and improving earnings across the board. There should be more good news for corporations in the upcoming quarters of 2017, but the firmer the foundation of companies’ forward outlook now — a real strength of the bank stocks — the stronger those gains will be in the near future.
Mark Vickery
Senior Editor
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