The Weekend Rip: It’s Earnings Season

Good evening, everyone.

Earnings season kicks off as the major banks get ready to report. JP Morgan and Citi will release numbers Tuesday morning, Bank of America and Goldman Sachs on Wednesday. 

The major airlines are also expected to report. We’ll see what those executives say about the status of the industry. See the earnings calendar below.

Stocks rallied strong last week. Are we heading back to new highs? Place your bets…

Here’s the weekly S&P 500 chart:

S&P 5003,477+3.84%
Russell 20001,637+6.38%
Dow Jones28,586+3.27%
Weekly Percent Changes

Sector Check-In

Technology is the best performing sector in 2020. Energy is the worst. Who would’ve guessed? 🤷‍♂️

Here’s the YTD performance of the Select Sector SPDR ETFs:

Technology ($XLK) +32%
Consumer Discretionary ($XLY) +23%
Communications ($XLC) +13%
Materials ($XLB) +10%
Health Care ($XLV) +8%
Consumer Staples ($XLP) +6%
Utilities ($XLU) +1%
Industrials ($XLI) +1%
Real Estate ($XLRE) -2%
Financials ($XLF) -16%
Energy ($XLE) -46%

Elections and Markets

The US Presidential election is less than a month away. Who knows what’ll happen to the markets the morning of November 4.

Jamie Catherwood writes all about the historical relationship between markets, elections and politics on this week’s Sunday Reads.

Here’s a snippet of his post:

I always find it interesting when a certain asset or instrument can be used as a gauge for predicting the outcome of a certain event like elections, wars, etc. For example, this chart from Bloomberg is just one of thousands on this topic:

Sunday Links:

❼ The 7 Things That Matter For Markets Going Forward

🗺 Mapped: America’s $2 Trillion Economic Drop, By State and Industry

🎾 Rafael Nadal Wins His 20th Grand Slam Title With French Open Victory

🏠 This Aston Martin-Designed Sylvan Rock House Is a Cool $7.7 Million

👟 Vans Just Launched Its Collab With MoMA at Nordstrom’s NYC Flagship

🏃 How to Lead by David Rubenstein

🛰 AI Startup Vestun Launches Hedge Fund Navigating Market Turbulence

The Week Ahead 

And now a brief and well-organized look ahead at the trading week beginning Monday, October 12th, 2020:

Economic Calendar:

  • 10/13  September Consumer Price Index (8:30 AM ET)
  • 10/14  September Producer Price Index (8:30 AM ET)
  • 10/16  September Retail Sales (8:30 AM ET)

Here’s the full Economic Calendar provided by Briefing

Earnings Calendar:

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