Earnings season will officially get underway with the big banks and a few others reporting second-quarter results this week.
But this time is a little different than what we’re used to…
These companies are expected to stand on their own two feet, so to speak. I mean, they can’t keep using the same old COVID-19 excuse.
It’s just too old now.
And because they provide traders and investors with insight into how companies are performing, I thought it would be beneficial to show my readers which four earnings reports to watch this week.
Earnings season always kicks off with the Financials…
And as you’ll see in today’s video, the Financial Select Sector SPDR Fund (NYSEArca: XLF), which tracks financial stocks, is trading below its 50-day moving average. However, roughly 45% of S&P 500 stocks are trading above their 50-day MA.
So the stock market is slightly slumpy.
Large caps like the FAANG stocks are roaring right now, while the rest of the market is pretty calm. I mean, if you were to look at small- or mid-cap stocks, you wouldn’t be too surprised to see similar price action.
On that note…
I want to show you the best earnings reports to watch this week, and if you’ve been a loyal subscriber, it shouldn’t be any surprise that Goldman Sachs is up first.
Goldman Sachs Group Inc. (NYSE: GS) is supposed to report second-quarter earnings Tuesday before the opening bell.
I’ve talked about Goldman Sachs in a lot of previous videos, but for those of you who might have missed them, it’s a leading global investment banking firm that provides clients with a wide range of financial services…
And it anticipates earnings growth to come in at 82.6% for the current year!
I think Goldman Sachs will beat expectations and that we’ll see it’s price trade above $400 per share in the near term.
But that’s just the first earnings report I want my readers to watch this week…
Check out my short video below to see the next three earnings reports to watch this week. And if you plan to trade any of them, let me know about it in the comments section at the bottom of this page.
Don’t forget to subscribe to our YouTube channel if you haven’t already so you can be notified as soon as we post our next video!
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It doesn’t give a rip about the news, earnings, the Federal Reserve or what anyone has to say. The stocks simply explode on the same date almost every year.
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