Afternoon Note
The market is marking time, as earning season has gotten underway. This earnings period will be a nail biter for sure. Those that miss will pay a heavy price and those that beat convincingly will get a boost.
Citigroup (C) posted results that slightly beat the street, although there were yellow flags. Hence, the early move higher has turned into a slight decline.
Revenue came in at $18.76 billion versus estimate $18.50.
Earnings were $1.95 versus estimates $1.80 (without the windfall from the Tradeweb IPO, earnings would be $1.83)
Investors need to be blown away to move stocks and Citigroup’s management is lucky its shares aren’t lower.
This session probably marks time with buying more defensive areas like Consumer Staples, Healthcare and Utilities. But make no mistake, fireworks are going to happen this earnings season.
S&P 500 Index |
-0.13% |
|
Communication Services (XLC) |
-0.27% |
|
Consumer Discretionary (XLY) |
-0.10% |
|
Consumer Staples (XLP) |
+0.13% |
|
Energy (XLE) |
-0.69% |
|
Financials (XLF) |
-0.58% |
|
Health Care (XLV) |
+0.26% |
|
Industrials (XLI) |
-0.45% |
|
Materials (XLB) |
-0.19% |
|
Real Estate (XLRE) |
+0.34% |
|
Technology (XLK) |
+0.10% |
|
Utilities (XLU) |
+0.13% |
Tweet |
3/28/2024 1:39 PM | Fruitful Quarter |
3/28/2024 9:50 AM | LISTEN TO THE MARKET |
3/27/2024 1:40 PM | Mostly Higher |
3/27/2024 9:32 AM | U-TURN? |
3/26/2024 1:08 PM | Everything Is Up |
3/26/2024 9:42 AM | TAPPED OUT (I HOPE YOU AT LEAST GOT A T-SHIRT) |
3/25/2024 1:33 PM | Not A Mutiny |
3/25/2024 9:35 AM | STAYING THE COURSE…BEYOND TECH |
3/22/2024 12:56 PM | Toll on Americans |
3/22/2024 9:38 AM | A TAD TIRED |
3/21/2024 1:55 PM | Building on Gains |
3/21/2024 9:30 AM | A COMFORTING FED |
3/20/2024 1:33 PM | Pivotal Moment |
3/20/2024 10:00 AM | HERE COMES THE FED |
3/19/2024 1:33 PM | Picking Up Steam |
3/19/2024 9:35 AM | RUMBLINGS IN THE BOND MARKET |
3/18/2024 1:48 PM | Mag 7 is Back |
3/18/2024 9:39 AM | THE PARTY IN SAN JOSE WILL BE LIT |
3/15/2024 1:38 PM | Realtors Settle |
3/15/2024 9:33 AM | AN UNEASY PAUSE |
3/14/2024 1:43 PM | Sticky Inflation |
3/14/2024 9:48 AM | GOING TO A GO-GO |
3/13/2024 2:16 PM | Taking a Breather |
3/13/2024 9:51 AM | ALL SO EPIC |
3/12/2024 1:42 PM | Marching Higher |
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