Seeking Alpha

Stock futures little changed as earnings season kicks off

  • Stocks look to open on a cautious note as S&P and Dow futures trade flat, but Nasdaq (+0.2%) signals a higher open after facing aggressive selling pressure over the past three sessions.
  • Asian markets ended mixed, with the Shanghai composite sharply higher following a long weekend, while major European bourses trade lower across the board.
  • Alcoa will kick off Q1 earnings season after the close today, with JPMorgan Chase and Wells Fargo on Friday and reports coming in full force next week.
  • Some observers believe the market has now mostly priced in a lackluster earnings season following a weather-related slowdown, perhaps setting up a situation where the bar is low enough that it won't be hard to beat expectations.
  • The benchmark 10-year Treasury yield is up one basis point to ~2.71%.
Comments (1)
  • Grant Dossetto
    , contributor
    Comments (192) | Send Message
     
    Priced in? The stocks getting crushed don't rely on earnings to move. No one was buying Facebook, Twitter and Tesla because of their money making capabilities. Companies like GE, Cisco, Intel, HP, Microsoft, and the banks which have been moving higher seem ripe for a correction on bad earnings related to a slowdown (even if if it temporary). Bad earnings are not priced in.
    8 Apr 2014, 09:31 AM Reply Like
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