The Weekend Rip: Banks on Deck

The Weekend Rip 4/12

The market waits for nothing and when the world is so crazy, sometimes it’s a little bit difficult to look ahead. Earnings season kicks off this week so gloves up. 

Money center banks report and the body language of these execs are going to frame the action in stocks.

JP Morgan kicks off on Tuesday before the open. $JPM’s CEO Jamie Dimon already began telegraphing somewhat with his letter to shareholders which we discussed last week. If you missed it, you can still read that here. It is well worth your time.

Below, you will find a longer listing of the most prominent companies reporting this week and when they go.

Also… apparently the oil war is over. For now, lol.
Oil Price War Ends With Historic OPEC+ Deal to Cut Production

Here’s the weekly performance for the major indices and the weekly S&P 500 chart:

S&P 5002,789+12.10%
Nasdaq8,153+10.59%
Russell 20001,246+18.50%
Dow Jones23,719+12.67%
Weekly percent changes 

Bear Market Rallies

Here’s a great chart shared by Peter Brandt. This is a weekly chart from 1929-1932, emphasizing the explosive bear market rallies during the Great Depression. “High not exceeded for 25 years”, hard to imagine. 

Stocktwits Social Sentiment Index

Stocktwits Social Sentiment is at its highest level since March 8th. Sentiment followed price last week, as community members got 36% more bullish since last Sunday.  

2008 VIX vs 2020 VIX

Here is a $VIX chart shared by Trendspider. This chart is comparing the price behavior for the $VIX during 2008 and 2020. If history repeats itself we could be in for an uptick in volatility. Place your bets…

The Oldest Company in (Almost) Every Country

h/t Jamie Catherwood

Masters Sunday

1997 Masters Tournament Final Round Broadcast

Tiger Woods becomes the youngest Masters champion.

Sunday Links

Decoding The Most Confusing Week Ever

Crashes, Policy, and Domino Effects via Jamie Catherwood

Top Dawgs of 2020

A Wall Street Bank’s Hard-Driving Culture Pushes Traders Into the Office

Long Reads Curated by Tadas Viskanta

Quarantine Bakers Are Making Flour a Hot Commodity

Fed Truthers are Wrong Again via Cullen Roche 

The Week Ahead

And now a brief and well-organized look ahead at the trading week beginning Monday, April 13, 2020:

Economic Calendar:

4/15 March Retail Sales (8:30 AM EST)

4/15 EIA Crude Oil Inventories  (10:30 AM EST)

4/16 March Housing Starts (8:30 AM EST)

Here’s the full Economic Calendar provided by Briefing

Earnings Ahead:

Here’s Earnings Whispers’ great visual.

Be sure to know when your stocks are reporting. Here’s the full earnings calendar.