(As of 7:20 am PST)
Markets are slightly higher despite a lack of data as
investors continue to sift through corporate earnings reports. Nearly 80 companies are set to report this
week with notable names such as Walt Disney, Tesla Motors and Whole Foods set
to announce later in the week. So far,
earnings season has been nothing to write home about. 74% of companies to report have beat on the
bottom line (earnings) while only 53% of companies have exceeded revenue
expectations. In other stock related
news today, investors are eagerly awaiting the Twitter IPO set for
Thursday. According to a Monday filing
with the SEC Twitter set an IPO price range of $23 to $25 per share. There’s a sense of caution creeping in to the
markets as all 3 US indexes are trading near all-time record highs, having just
come off the best October since 2011. A
pullback from these levels could be a good thing for this frothy market. Gold and oil are slightly higher while
interest rates ticked down. Expect a
quiet day today as investors try to figure out where to go from here.
No comments:
Post a Comment