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S&P 500 Outlook: Investors on Edge Ahead of Earning Season

S&P 500 Outlook: Investors on Edge Ahead of Earning Season

Justin McQueen, Strategist

Equity Analysis and News

Source: Thomson Reuters, DailyFX

S&P 500 |

Despite several key risk events throughout the week, volatility has remained subdued, which has been made apparent by the sideways price action observed in the S&P 500. The change on the week has been a meagre 0.15% decline. However, as the global growth outlook appears to be softening, the upcoming earning season will be crucial for investors on whether company executives echo these concerns. April 12th will see the official start of the US earning season with financial names JP Morgan, PNC Financial and Wells Fargo reporting before the bell.

CompanyMarket CapTime of release (BST)Expected EPSExpected Revenue
JP Morgan (JPM)$344.8bln11:55$2.32$28.07bln
PNC Financial (PNC)$58bln11:55$2.59$4.25bln
Wells Fargo (WFC)$221.6bln13:00$1.08$20.87bln

Throughout the first quarter, the financial sector (XLF) has underperformed the broader market (S&P 500) with gains of roughly 8% relative to the 13% rise in the S&P 500. Factors behind this have bee due to the change in stance from the Federal Reserve who moved to a patient stance with regard to rate hikes amid the slowing down in US growth.

Source: Thomson Reuters (Q1 Performance)

S&P 500 Price Chart: Daily Time Frame (Aug 2018 – Apr 2019)

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--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.com

Follow Justin on Twitter @JMcQueenFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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