2nd Qtr earnings report start next week
Posted: Sat Jul 10, 2010 11:46 am
Less than 5% of the S&P 500 will report earnings next week, but that number includes cyclical bellwethers Bank of America (NYSE: BAC), Intel, and General Electric (NYSE: GE). GE has significant industrial and financial businesses, yet its earnings estimates have not budged in at least 60 days. Meanwhile, Bank of America's have declined over the past 30 days and the past seven days (the same is true of another Dow financial, JPMorgan Chase (NYSE: JPM)). If GE meets or exceeds those estimates -- for the right reasons (watch the top line) -- it could indicate that economic activity is holding up better than expected.
A good report from GE would be bullish for oil.
Most of the Sweet-16 will not report 2nd quarter results until early August.
Dan
A good report from GE would be bullish for oil.
Most of the Sweet-16 will not report 2nd quarter results until early August.
Dan