6:32 a.m. We should be getting used to this now, as stocks look to start another morning off in the red.
It is almost as if the market is waiting for something. Maybe it is for resumption in the rise of bond yields, as the U.S. Treasury sells billions in debt? Or perhaps the euro to start sliding against the dollar again if we get another headline out of Italy? And the trade war between the U.S. and China is always lurking in the background.
Earnings season is just getting under way, with Fastenal (FAST) this morning, Delta Air Lines (DAL) tomorrow, and Citigroup (C) and JPMorgan Chase (JPM) on Friday. It has the potential to get stocks moving higher again…or not.
“Earnings’ season is just outside our door and it will be interesting to see whether U.S. growth will translate into strong figures — and more important, equally strong forward guidance,” writes Konstantinos Anthis, head of research at ADSS. “If not, then things could turn ugly in a hurry.”