Afternoon Note
The market has been under the gun all session long battling back to very minimal loses twice, but as we head into the second half of the session, we could see the buy on dips crowd move to the sidelines. The latest move lower is coming on word one of the first five confirmed patients with Coronavirus in the United States passed it to their spouse. The tally is now six in America.
Later, the World Health Organization will announce whether the virus has risen to the level of global emergency. There is pressure from China not to make such a declaration, but others are saying it would help poor nations with international aid.
I have to admit I’m surprised at today’s resolve. The declines are very low percentage moves, and considering the amount of media reaction, I would have expected at least a 1% decline or much worse. Obviously, it’s a developing situation that has to be monitored by investors but remember to focus on the fundamentals.
Earnings Season
Meanwhile, earnings continue to come in better than expected.
193 S&P 500 companies have posted results.
Revenue
Earnings
Best Sectors
Amazon to the Rescue?
Amazon (AMZN) shareholders haven’t been happy with earnings for a long time. Even when the company has posted impressive beats, the stock was down a lot one week later.
I guess one could say Amazon is due to lead the charge, but the company is going to have to show strong numbers in its cloud business as Microsoft (MSFT) and others continue to chip away.
Amazon Earnings Thud |
Surprise |
1-Week |
Q3 2018 |
+$2.61 |
-6.6% |
Q4 2018 |
+$0.37 |
-5.7% |
Q1 2019 |
+$2.37 |
-0.6% |
2Q 2019 |
-$0.35 |
-6.6% |
3Q 2019 |
-$0.39 |
-0.3% |
Tweet |
4/18/2024 1:37 PM | Didn’t Break Down |
4/18/2024 9:40 AM | MARKET OFF SCRIPT |
4/17/2024 1:59 PM | Facing Pressure |
4/17/2024 9:37 AM | POWELL STILL WANTS TO HELP |
4/16/2024 1:35 PM | Muted |
4/16/2024 9:42 AM | FEAR ARRIVES |
4/15/2024 1:17 PM | Making a Statement |
4/15/2024 9:45 AM | Equal Opportunity Drubbing |
4/12/2024 1:37 PM | Pressure Overall |
4/12/2024 9:42 AM | WHO YA GONNA CALL? |
4/11/2024 1:38 PM | No Urgency |
4/11/2024 9:27 AM | Tough Sledding |
4/10/2024 1:22 PM | Hang In There |
4/10/2024 9:51 AM | HERE COMES THE LATEST RATIONALE FOR PERSISTENT INFLATION |
4/9/2024 1:56 PM | Fighting the Trend |
4/9/2024 9:46 AM | NEXT TIME, MAKE IT A HOLIDAY |
4/8/2024 9:45 PM | Cautious Feel |
4/8/2024 7:19 AM | IT’S ECLIPSE DAY |
4/5/2024 1:51 PM | Higher and Cheaper |
4/5/2024 9:23 AM | MARKETS REEL ON BIDEN’S ISRAEL ULTIMATUM |
4/4/2024 1:42 PM | Stocks Bounce |
4/4/2024 9:31 AM | ESCAPING GRAVITY = ESCAPING REALITY? |
4/3/2024 1:41 PM | Cuts Not Soon |
4/3/2024 9:33 AM | A LITTLE LESS SWAGGER |
4/2/2024 1:16 PM | Under Pressure |
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