The week started off with optimism but quickly turned sour as the financial sector experienced a sell-off following JPMorgan’s earnings report. Next in line to report earnings are big players like Goldman Sachs, Charles Schwab, and Bank of America, along with other Dow names. Netflix is at the forefront of the tech sector’s earnings, while the cryptocurrency industry is buzzing about bitcoin’s upcoming halving event and its potential impact on the market.
In terms of stock movements, Nvidia has formed a new base, Ares Management and Saia are trading in tight flat bases, Novo Nordisk is testing support, and Cameco is on the verge of a breakout. Economic data in the upcoming week will be centered around retail sales and housing reports, impacting the Fed’s rate cut strategy. Analysts are closely watching the trend in jobless claims for any potential market-moving impact.
As we delve into earnings season, focus shifts to companies like United Airlines, Interactive Brokers, ASML Holding, and Intuitive Surgical. Market experts and analysts are keeping an eye on various sectors for signs of growth and value, with small-cap stocks being undervalued by 18%. The memories of past financial crises and rate hike worries from a year ago are also being revisited in this ever-evolving economic landscape.