The Dow Jones Industrial Average emerged from correction territory this week, as investors applauded earnings in the financial sector. At the same time, markets chose to ignore the now record-long U.S. government shutdown and ongoing Brexit saga in the U.K.
Financials Start Earnings Season On Positive Note
Bank of America (BAC), Citigroup (C) and Goldman Sachs (GS) all traded higher this week, after posting solid quarterly results. The earnings news was not all rosy however, as Morgan Stanley (MS) fell short of expectations on Thursday. Outside of the financial sector, Ford Motor (F) also cut profit expectations this week.
As the following chart shows, quarterly reporting activity will continue to pick up next week and the floodgates really open in February.… Read more