Hi, today we are going to talk about SPY and its current landscape.
The Banking earning season rolls out and it's poised to put pressure on the market since the size and importance of the sector for U.S economy, big banks such as:
• Wells Fargo - $WFC;
• Goldman Sachs - $GS;
• Citigroup - $C;
• JPMorgan Chase - $JPM
With only the first two ones posting underwhelming results, Wells Fargo missing EPS by -6.14% but surpassing estimated revenue in +3.87%. However, Goldman Sachs failed to delivery in both results by -0.42% and -0.2%, respectively, citing losses from Uber and other bad investments. Although these two underperformers, the market it's thrilled by this banking earning season and must push some effort to look away from the Agatha Christie novel, that the Trade War with China has become.
As nobody seems to know who killed the Friday deal optimism, with China the usual suspects can be traced to the lack of commitment from both parts, as the U.S fails to create mechanisms in the deal to avoid China to backward on whats was agreed in the deal, that its been taking advantage now each day by China, that is asking for more tariffs reliefs than was agreed, to start the pompous spending of $50 billion in U.S farm goods, which by itself its a polemical subject that if the strategy past used of exempt companies that by this type of good from having to pay tariffs from China, a strategy that seems weak to reach the promised $50 billion spending. For the next chapter of this novel, the market it's waiting for these unclear outcomes of the Trade talks to settle down (while enjoying the earnings season). However, any further aggression (sanctions, tariffs, blacklisting and etc) from both parts would be taken as a signal of the collapse of this deal inputting massive bearish on the economy that it's going to lose hope of seeing any progress on this matter before the next election campaign on 2020, and nobody would be able to blame the Butler in this history.
Thank you for reading and leave your comments if you like.
Join the Traders Heaven today for more exclusive content!
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Disclaimer: All content of Golden Dragon has only educational and informational purposes, and never should use it as financial advice
The Banking earning season rolls out and it's poised to put pressure on the market since the size and importance of the sector for U.S economy, big banks such as:
• Wells Fargo - $WFC;
• Goldman Sachs - $GS;
• Citigroup - $C;
• JPMorgan Chase - $JPM
With only the first two ones posting underwhelming results, Wells Fargo missing EPS by -6.14% but surpassing estimated revenue in +3.87%. However, Goldman Sachs failed to delivery in both results by -0.42% and -0.2%, respectively, citing losses from Uber and other bad investments. Although these two underperformers, the market it's thrilled by this banking earning season and must push some effort to look away from the Agatha Christie novel, that the Trade War with China has become.
As nobody seems to know who killed the Friday deal optimism, with China the usual suspects can be traced to the lack of commitment from both parts, as the U.S fails to create mechanisms in the deal to avoid China to backward on whats was agreed in the deal, that its been taking advantage now each day by China, that is asking for more tariffs reliefs than was agreed, to start the pompous spending of $50 billion in U.S farm goods, which by itself its a polemical subject that if the strategy past used of exempt companies that by this type of good from having to pay tariffs from China, a strategy that seems weak to reach the promised $50 billion spending. For the next chapter of this novel, the market it's waiting for these unclear outcomes of the Trade talks to settle down (while enjoying the earnings season). However, any further aggression (sanctions, tariffs, blacklisting and etc) from both parts would be taken as a signal of the collapse of this deal inputting massive bearish on the economy that it's going to lose hope of seeing any progress on this matter before the next election campaign on 2020, and nobody would be able to blame the Butler in this history.
Thank you for reading and leave your comments if you like.
Join the Traders Heaven today for more exclusive content!
Link bellow!
Disclaimer: All content of Golden Dragon has only educational and informational purposes, and never should use it as financial advice