BG,
Not much to go on today.
Alcoa earnings report after the closing Bell.
The Consumer Credit report late in the day.
It's going to be another tough call today.
Entered the week decidely more bearish short term.
Going with DOWN on HUMP Day,
Economic Reports:
Crude Inventories 10:00am(Eastern)
Consumer Credit 3:00pm(Eastern)
gl,
baz
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Almost 67 percent of S&P 500 members topped analysts’ estimates for first-quarter earnings after eliminating jobs and closing plants,
Bloomberg data shows. The year-over-year profit slide for Standard & Poor’s 500 Index members may narrow to 21 percent from July
through September, after a decline of an estimated 34 percent in the second quarter, according to data compiled by S&P and Bloomberg.
Not expecting a good 2nd Quarter earnings season, however have to consider what Charles Smith,
Chief Investment Officer for Fort Pitt Capital Group Inc. pointed out recently:
“The analysts will probably lowball things once again and the companies will be able to jump over it again,”
Some of the numbers and estimates:
Railcar shipments are down 19.5 percent so far this year.
Exxon Mobil, net income may drop 64 percent.
Toyota Motor Corp., Honda Motor Co., Nissan Motor Co., Japan’s three largest automakers, will likely post losses,
“The numbers will look really ugly,”
The nine biggest U.S. air carriers, including Delta Air Lines Inc., American Airlines parent AMR Corp.
and United Airlines parent UAL Corp., may have a combined quarterly loss of $1 billion.
Large banks in general will report lower earnings than in the first quarter
It's estimated that technology purchases in the U.S. will decline 5.1 percent this year(although a 4Q recovery is forecasted)
Espoo, the world’s biggest handset maker, may report a 67 percent slide in net income.
Steelmakers are grappling with prices that have yet to rebound after demand plunged the most since World War II.
BHP Billiton Ltd., the world’s biggest mining company, may report its first profit decline in nine years.
Dow Chemical Co., the largest U.S. chemical maker, may report a second-quarter loss
and a 94 percent profit decline in the current quarter.
Rising unemployment in Europe is trimming as much as 10 percent of industry sales.  |