Hello MarketClub members everywhere. The indexes are looking and pacing to snap a 3-day losing streak today with the big 3 all being in the green. This move comes on the heels of a relatively quiet holiday weekend where fears of geopolitical upheaval that never came to fruition.
Traders have turned their attention to a slew of corporate earnings this week, led off by Netflix and of course United Airlines, who both report after the close today.
Netflix Inc. (NASDAQ:NFLX) is expected to report earnings of .37 EPS according to analysts. That would be more than a 38% increase compared with the .6 ESP Netflix reported during the same quarter a year ago.
Analysts expect United Continental Holdings Inc. (NYSE:UAL) earnings per share to drop 69% to .38 EPS, this decline is a reflection of higher fuel costs. Revenue is expected to increase 2% to $8.379 billion.
Hello MarketClub members everywhere. The indexes are trading in a narrow range as the shortened trading week comes to an end and the big banks kicked off earnings season. The Dow is down 85 points, the S&P 500 and NASDAQ are little changed on the day.
Risk-off trades have been all the rage this week, with gold, Treasury's and the Japanese yen all tracking for gains.
Hello MarketClub members everywhere. As the geopolitics risks rise around the globe traders are heading for the traditional safe havens of gold and the yen. Both have rallied to five-month highs while Treasury note yields approached the lowest levels of the year.
Meanwhile the dollar has softened and oil has extended its winning streak to five days.
Hello MarketClub members everywhere. The markets are flat heading into the close of trading today. The cause? The U.S. economy added 98,000 jobs last month vs. the expected gain of 180,000. Wage growth was not as strong either, with average hourly earnings up by 2.7 percent on an annualized basis. However, the unemployment rate fell to 4.5% from 4.7%.
Futures and Treasury yields slipped after the jobs report was released, with the 10-year note yield briefly dipping below 2.3 percent to hit its lowest level since late November.
Hello MarketClub members everywhere. The DOW is on pace for its best day in over a month, and the NASDAQ hit a new all-time high this morning. The move was due to U.S. companies adding 263,000 workers in March as reported by ADP, the most since December 2014. Economists had expected 187,000 jobs to be added in the month.
Next, on deck, this afternoon is the release of the FOMC minutes from their March meeting. As you know, the FED raised rates by 25 basis points but kept its 2017 outlook largely unchanged.