Lots of big names on the release calendar

At the day's midday,

  • The S&P is up 3 points or 0.11%
  • The Nasdaq is up 6 points or 0.08%
  • The Dow is down -10 points or 0.04%

But today is a relatively quiet day for earnings with Alphabet being the only key release scheduled for after the close.

For the rest of the week, the earnings calendar will be full of big names and big earnings. Here is a sample listing:

Monday:

  • Alphabet

Tuesday:

  • 3M
  • Verizon
  • Caterpillar
  • Travelers
  • Lockheed Martin
  • Coca-Cola
  • United Technologies

Wednesday:

  • Boeing
  • Comcast
  • Facebook
  • Ford
  • AT&T
  • QUALCOMM

Thursday:

  • GM
  • Starbucks
  • UPS
  • Southwest
  • Amazon
  • Microsoft

Friday:

  • Chevron
  • Honda
  • Colgate-Palmolive
  • Exxon Mobil

That is a lot of market cap at risk.

The S&P index last week failed on a move above its 100 day MA. That MA comes at 2704.00 today. The price closed one day above that MA line. The 200 day MA is below at 2606.90.

The earnings are expected to be stellar, but what is priced in and can the market get over the geopolitical risk mainly from tariffs, Syria. Higher oil price, more privacy regulation (does it spread to others like Amazon, Alphabet, etc.) higher yields may also help choke off expectations for the economy.

The price action since February has seen more up and down. In April, the 200 day MA was broken and failed and now the 100 day MA has been broken and failed.

Those MAs seem to be guardrails that may confine the market as a result of the uncertainty in the face of good earnings.

PS the Sohn conference is going on today. It has historically had mixed results (see Adams post here).