We start a new week of trading in a somewhat tepid move, after an up-week last week. Even the small-cap Russell 2000, which took longer to gain any positive traction, gained a half of 1% over the past five trading days. For the month so far, after a healthy March and end to calendar Q1, indices are mixed: the Dow and S&P 500 are up roughly a percentage point, whereas the Nasdaq and Russell are down by about as much.
Empire State Manufacturing for April swung to a positive level for the first time since November of last year: +10.8 versus an unrevised -24.6 in March and a multi-year low -32.9 — the worst print in this manufacturing survey for New York State since the pandemic. In fact, this marks only the third month in the past year with a positive Empire State index. The Philly Fed survey is expected later this week.
Banks continue to report Q1 earnings, and this morning investment firm Charles Schwab & Co. (SCHW - Free Report) posted mixed results for the quarter: earnings of 93 cents per share beat the Zacks consensus by 3 cents, +20% year over year. Revenues, on the other hand, reached $5.116 billion in the quarter, slight below the $5.16 billion analysts were expecting. Guidance was also trimmed down a bit: down 2 cents per share to 85 cents for the quarter (-12% year over year) and $3.63 per share for the full year, down -7% from $3.80 per share earlier expected. Shares are down another -3.9% on the news, -38% year to date.
After today’s close, we’ll see results from Transportation major J.B. Hunt (JBHT - Free Report) , where it is expected both earnings and sales will come in somewhat lower than its year-ago numbers. The company missed its earnings number last quarter, but beat the previous three quarters. Tomorrow afternoon brings us the first of the so-called FAANG stocks, when Netflix (NFLX - Free Report) brings its results forward. It also missed earnings expectations last quarter, but beat in the previous five.
After today’s opening bell, we’ll see the latest Homebuilder Confidence Index for April, in what will be the first of several reports on U.S. housing this week: Housing Starts and Building Permits are expected tomorrow morning, Existing Home Sales for March comes out Thursday, and the Case-Shiller Home Price survey for February is out on the early side of next week.
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We start a new week of trading in a somewhat tepid move, after an up-week last week. Even the small-cap Russell 2000, which took longer to gain any positive traction, gained a half of 1% over the past five trading days. For the month so far, after a healthy March and end to calendar Q1, indices are mixed: the Dow and S&P 500 are up roughly a percentage point, whereas the Nasdaq and Russell are down by about as much.
Empire State Manufacturing for April swung to a positive level for the first time since November of last year: +10.8 versus an unrevised -24.6 in March and a multi-year low -32.9 — the worst print in this manufacturing survey for New York State since the pandemic. In fact, this marks only the third month in the past year with a positive Empire State index. The Philly Fed survey is expected later this week.
Banks continue to report Q1 earnings, and this morning investment firm Charles Schwab & Co. (SCHW - Free Report) posted mixed results for the quarter: earnings of 93 cents per share beat the Zacks consensus by 3 cents, +20% year over year. Revenues, on the other hand, reached $5.116 billion in the quarter, slight below the $5.16 billion analysts were expecting. Guidance was also trimmed down a bit: down 2 cents per share to 85 cents for the quarter (-12% year over year) and $3.63 per share for the full year, down -7% from $3.80 per share earlier expected. Shares are down another -3.9% on the news, -38% year to date.
After today’s close, we’ll see results from Transportation major J.B. Hunt (JBHT - Free Report) , where it is expected both earnings and sales will come in somewhat lower than its year-ago numbers. The company missed its earnings number last quarter, but beat the previous three quarters. Tomorrow afternoon brings us the first of the so-called FAANG stocks, when Netflix (NFLX - Free Report) brings its results forward. It also missed earnings expectations last quarter, but beat in the previous five.
After today’s opening bell, we’ll see the latest Homebuilder Confidence Index for April, in what will be the first of several reports on U.S. housing this week: Housing Starts and Building Permits are expected tomorrow morning, Existing Home Sales for March comes out Thursday, and the Case-Shiller Home Price survey for February is out on the early side of next week.
Free Report Reveals How You Could Profit from the Growing Electric Vehicle Industry
Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in? If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.
>>Send me my free report on the top 5 EV stocks<<
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