Monthly Archives: July 2020

Tighten the Knot on your Bathing Suit

Last Week: Earnings season is underway with 26% of the companies in the S&P 500 having reported actual results for Q2 2020. The good news is that the percentage of companies reporting actual EPS above estimates (81%) is above the five-year average, with companies reporting earnings that are 11.4% above the estimates, which is also above the five-year average. The same holds true for revenues as the percentage of companies reporting [...]

2020-07-27T12:43:19-05:00July 27th, 2020|

The Sun Also Rises

Last Week: Earnings season produced no surprises with 9% of the S&P 500 companies having reported results which were consistent with forecasts for a 44% decline in profits for the quarter. If -44.0% is the actual decline for the quarter, it will mark the largest year-over-year decline in earnings reported by the index since Q4 2008 (-69.1%). It will also mark the fifth time in the past six quarters in which [...]

2020-07-20T10:50:36-05:00July 20th, 2020|

Earnings Season Therapeutics

Last Week: The market got off to a nice start on Monday after a weekend of significantly lower coronavirus deaths and bullish economic news from China’s state-run media. The middle of the week was dominated by a surge in COVID-19 cases and cautionary comments from Dr. Anthony Fauci, who suggested the states with large outbreaks should considering shutting down their economies again. That downward trend continued Friday morning until a rally [...]

2020-07-13T11:08:54-05:00July 13th, 2020|

End of Quarter Fireworks

Last Week: Despite the general absence of fireworks (Mount Rushmore and other exceptions noted), the market enjoyed a festive pre-holiday rally with the S&P 500 gaining 4.02% and the Nasdaq Composite reaching a new record high. Three cheers for the Red, White, and Blue! For the quarter, the market posted its best performance in 33 years, parenthetically during one of the worst economic quarters on record. The week got a good [...]

2020-07-06T10:27:56-05:00July 6th, 2020|