The Week ahead: Data, Data & More Data….+ Levels for 01.09.24
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
The Week Ahead: Data, Data and more Data.
By John Thorpe, Senior Broker
A week of uncovering and discovering the reality rather than the hypothesis of market moving data events.
Sell the rumor and Buy the Fact? Or is it Buy the Rumor and sell the fact?
If you know what the market has been discounting, both statements can be true.
Trillions in Market Cap from Q4 report earnings this week
Mainly banks, perhaps the market had already corrected anticipating the earnings?
How will these stocks affect the current 2 month stock rally?
How will CPI affect the overall trend with this week’s release early Thursday ?
According to Fact set:
“The Financials sector will be a focus for the market during the next two weeks, as more than 70% of the S&P 500 companies that are scheduled to report earnings for the fourth quarter over this period are part of this sector. Companies in this sector expected to report earnings during these two weeks include Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Wells Fargo. The Financials sector is predicted to report the fourth-highest (year-over-year) earnings decline of all 11 sectors for Q4 at -3.1%”
See Page 5 of their 34 page Earnings Insight.
For our Grain and Meat traders, THE PIVOTAL Crop Production report is going to be released this Friday @11 am CST.
The seasoned analysts believe this is the biggest report of the year as 2023 came to an end and could make for the grandest market moves as well.
Make it a fantastic trading year!
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