This week we enter the heart of earnings season. Normally this would be the main focus of markets, but with the debt ceiling issue in the U.S. (a lesser concern), and the never ending mess in Europe (a larger concern), the typical market machinations to earnings data are most likely going to be less prevalent. This morning is a great example as was Friday. We had some of the typical 'beat the low ball analyst earnings' along with legitimate surprises such as that which came from Google (GOOG) - but it did little for the market,save for that late day hockey stick rally in the closing hour.
Bespoke Invest once again has a very nice summary for us of the key earnings reports of the week - along with YTD stock performance of said stocks, plus the typical earnings beat rate (which again is nonsensical considering the game that earnings have become).
The most interesting reports we'll focus on below are (Monday) IBM, (Tuesday) Apple, Chipotle [momo stock] Harley (reflection of bigger ticket item sales), (Wednesday) American Express, (Thursday) Baidu, (Friday) Ford, Caterpillar.
Best Of FMMF
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows