March 19, 2024

Can EPS decouple market from Oil?

Index & Sector performance 1/12/15 The Market: We noted in the Thursday end-of-day write-up that the strong gains had to do with positive comments from Mario Draghi as well as Oil prices managing to stabilize for the second straight session.  Unfortunately after managing to hold in Friday,  Oil prices resumed their recent slide today finishing below $46/per barrel.  As we have noted in other write-ups and you can see elsewhere, Oil’s sharp decline brings in concern over global growth and particularly U.S. earnings.  Speaking of earnings, Aloca (AA) is scheduled to kick off the earnings season tonight and below you…

Very quiet start to the week

Index & Sector performance 7/7/14 The Market: Today was a very quiet trading session which saw the market give back some of last week’s holiday gains.  Looking over the Economic Calendar, this is a light data week and while Alcoa (AA) will kick off earnings season tomorrow after the close it will still be a while before we are in the thick of earnings season. We are watching the Russell 2000 (IWM) closely.  In good times you expect to see the Tech Stocks and Small caps lead.  While the NASDAQ (QQQ) has come back to do its part this year,…