Flat Market Ahead of Earnings

The stock market is fairly quiet today. The S&P 500 is going for its fifth-straight rally today. We’re getting to the heart of earnings season although Monday is usually a slow day for earnings. According to numbers from Bloomberg, analysts now expect Q1 earnings growth of 0.7% and revenue growth of 2.6%.

The crisis in Ukraine continues to weigh on the market. The Russia ETF ($RSX) is down sharply today. Last week, the RSX had started to rally, but today’s action has halted that. U.S. Treasuries are doing well. A lot of money managers took big bets against U.S. Treasuries and that trade has not worked out this year. The long end of the yield curve continues to hold up well. At the end of last year, the 10-year reached a 29-month high. Since then, the TLT has beaten the S&P 500 by a good margin this year.

On our Buy List, Qualcomm ($QCOM) reached a new 52-week high this morning.

Posted by on April 21st, 2014 at 12:10 pm


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.