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Earnings are 1st big stock test since market high Alcoa to kick season off; J.P. Morgan and Wells Fargo to cap week


  • Earning season is next week. (What is earning season? is the period of time during which a large number of publicly traded companies release their quarterly earning reports.)
  • U.S. stocks, which reached all-time highs at the end of March, will face the first real test of their resiliency in the coming weeks
  • Poor job reports drove S&P 500 down, making it’s worst week of the year
  • Belief that consumer is spending because “the world is coming to an end” because of issues in Washington and the Korean peninsula, consumer spending is at a all time high in 6 months
  • Consensus earnings estimates have already fallen 6.5% over the first quarter alone. (What is consensus earnings? It is a figure based on estimates, it is made up from “missed estimates” and it shows how the new information adjusts to the company’s stock.)
  • Morgan Stanley estimate is $103. Similarly for 2014, the consensus is $124 and Morgan Stanley sees $110

April 7, 2013

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