Earnings should take center stage
The Market:
Not much movement in today’s action as we saw a drop in volume across all the major Indices. The overnight session saw futures move lower which seemed primarily due to some exhaustion in the markets but not helping was China’s GDP numbers which met expectations but slowed compared to the prior quarter. With this being a light Economic Data week, we expect focus to be on individual stocks as they report earnings. Below is a list of names that reported tonight after the close and that will report tomorrow with even more listed in the Events Calendar.
In individual sectors, Energy (XLE) was the clear loser on the session but is still holding onto the recent gains from the late September bottom. A move back down toward the 50 day SMA may be an opportunity for a long trade but only short-term — longer-term we would not be surprised to see Energy have more trouble.
Not much on the Economic Data calendar but note that there is a lot of Fed speak this week.
Reported EPS 10/19/15 After the Close:
Reporting EPS 10/20/15 Pre-Market: