The Weekend Rip: Earnings Season is Here.

Well folks, earnings season is here and the banks will kick off the festivities Tuesday morning. 

We’ll get numbers from J.P. Morgan, Wells Fargo, and Delta Airlines on Tuesday. Then on Thursday, Domino’s and Netflix will report. This week should be a hoot.

Last quarter it felt like every company pulled guidance. You’d think this time around we’ll get some forward looking statements. 🤷‍♂️

Here’s the weekly chart. 

S&P 5003,185+1.76%
Russell 20001,422-0.64%
Dow Jones26,075+0.96%
Weekly percent changes

The Banks

The big banks will begin reporting this week. They have been underperforming forever. 

Let’s take a big picture shot and look at relative performance over time before we get into all the details as the week unfolds.

The S&P 500 Banks Industry Index is underperforming badly across all time frames. Maybe this will reverse when interest rates finally begin rising for real? Place your bets…

1 Year Performance

S&P 500 Bank Industry -25%
S&P 500 +7%

5 Year Performance

S&P 500 Bank Industry +2%
S&P 500 +55%

10 Year Performance

S&P 500 Bank Industry +81%
S&P 500 +195%

The 2020 Appalachian Photo Finish

They ran the 2020 Appalachian yesterday at Keeneland in Lexington, KY. It was a heck of a race and a legitimate photo finish.

You can watch it here.

Sunday Links:

🏦 Bankruptcy & Markets

🔋 ‘Million-mile’ batteries are coming. Are they a revolution?

🇺🇸 75 Yrs. of American Finance: A Graphic Presentation, 1861 to 1935

🕵️‍♂️ Jason Zweig Q&A

🚘 Tesla Confirms New Date For Investor, Battery Day

🍴How Restaurant Design Is Changing As a Result of COVID-19

The Week Ahead 

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

Economic Calendar:

7/14  June Consumer Price Index (8:30 AM ET)
7/16  June Retail Sales (8:30 AM ET)
7/17  June Housing Starts (8:30 AM ET)

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.