We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
We start off slowly in our new trading week, especially considering we will be getting Q1 earnings results from no fewer than 150 companies listed on the S&P 500, as well as 1/3 of the Dow Jones. We are currently in the heart of earnings season, though the marquee names don’t begin reporting until tomorrow.
When we do see these big names report — including Apple (AAPL - Free Report) , Amazon (AMZN - Free Report) , Boeing (BA - Free Report) , Alphabet (GOOGL - Free Report) and Tesla (TSLA - Free Report) — we know that the past quarter figures are less important than what June quarter projections are. Many companies that have already reported have erased any future guidance, if not for the next quarter than for full-year 2020. We will take incoming data on a company-by-company basis, and by the end of the week will have a strong view on earnings season overall.
A few things to look for include: Apple delaying the production of a new iPhone by roughly a month, Amazon and Alphabet (Google) to potentially have outperformed during this “shelter in place” period to combat the spread of the COVID-19 coronavirus, and whether Microsoft’s (MSFT - Free Report) Xbox Live was as strong as some analysts forecast. In short, we have plenty of scenarios to look forward to as the week progresses.
We also don’t see much in the way of economic data for the week. We do get Q2 GDP, jobless claims and manufacturing reads from PMI and ISM later in the week, but we will need to wait a week for new Employment Situation data and a fresh Unemployment Rate. Then again, as depressing as those reads no doubt will be, nobody is clamoring for them to come out right now.
So what we see this morning is more hopefulness buoying market futures — pre-market indexes are in the green across the board: the Dow is up 220 points, the Nasdaq +100 and the S&P 500 +20. No news is good news, as they say. And as long as coronavirus statistics continue to display a plateauing or downward slope in new cases and/or fatalities, we can expect these would contribute to the current sentiment, as well.
In this 300-page hardcover, Zacks' Executive VP Kevin Matras reveals almost every stock-picking secret he’s learned from the system that since 1988 has more than doubled the average yearly gain of the S&P 500.
Learn more now >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Starting Slow for a Busy Week
Monday, April 27, 2020
We start off slowly in our new trading week, especially considering we will be getting Q1 earnings results from no fewer than 150 companies listed on the S&P 500, as well as 1/3 of the Dow Jones. We are currently in the heart of earnings season, though the marquee names don’t begin reporting until tomorrow.
When we do see these big names report — including Apple (AAPL - Free Report) , Amazon (AMZN - Free Report) , Boeing (BA - Free Report) , Alphabet (GOOGL - Free Report) and Tesla (TSLA - Free Report) — we know that the past quarter figures are less important than what June quarter projections are. Many companies that have already reported have erased any future guidance, if not for the next quarter than for full-year 2020. We will take incoming data on a company-by-company basis, and by the end of the week will have a strong view on earnings season overall.
A few things to look for include: Apple delaying the production of a new iPhone by roughly a month, Amazon and Alphabet (Google) to potentially have outperformed during this “shelter in place” period to combat the spread of the COVID-19 coronavirus, and whether Microsoft’s (MSFT - Free Report) Xbox Live was as strong as some analysts forecast. In short, we have plenty of scenarios to look forward to as the week progresses.
We also don’t see much in the way of economic data for the week. We do get Q2 GDP, jobless claims and manufacturing reads from PMI and ISM later in the week, but we will need to wait a week for new Employment Situation data and a fresh Unemployment Rate. Then again, as depressing as those reads no doubt will be, nobody is clamoring for them to come out right now.
So what we see this morning is more hopefulness buoying market futures — pre-market indexes are in the green across the board: the Dow is up 220 points, the Nasdaq +100 and the S&P 500 +20. No news is good news, as they say. And as long as coronavirus statistics continue to display a plateauing or downward slope in new cases and/or fatalities, we can expect these would contribute to the current sentiment, as well.
Mark Vickery
Senior Editor
Questions or comments about this article and/or its author? Click here>>
Free Book: Finding #1 Stocks
In this 300-page hardcover, Zacks' Executive VP Kevin Matras reveals almost every stock-picking secret he’s learned from the system that since 1988 has more than doubled the average yearly gain of the S&P 500.
Learn more now >>