Earnings Season Starting Friday. Are You Ready?
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This article is originally referred from AvaTrade News.
Open your calendar! JPMorgan, Wells Fargo and Citibank, three US banking giants, will kick off the new earnings season this Friday, April 13th.
The companies are considered bellwethers for the banking sector and a major test for the wider US stock markets.
Investors are counting on corporate profits to provide bedrock support after markets recorded sharp swings in recent weeks over concerns of a fully-fledged trade war with China and tougher regulations for tech companies.
The expectations bar is a little higher this quarter, and analysts forecast broad-based earnings gains with all 11 sectors of the S&P 500 expected to report growth.
In particular, Wall Street anticipates that the S&P 500 will rise 17% from a year ago, and banks should do even better.
What do you think?
Will banks earnings support the S&P 500, or should we expect another correction?
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Original Source: AvaTrade News