Get Back to Fundamentals ALREADY!

Aaron Gentzler

Dear Rundown Reader,

Strong reports this quarter would do wonders for the market.

Big banks are up first. Today we break down what to expect.

But first…

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Your Rundown for Friday, April 13, 2018…

A Big Day for Big Banking

Today kicks off one of the most highly anticipated earnings season in recent memory.

Folks are hoping that strong earnings reports and a return to fundamentals will bring normalcy to a turbulent market.

We can only hope.

Wall Street is expecting big things.

Our own income expert Mike Burnick noted on a call yesterday that over “the last three months, analysts boosted S&P 500 profit estimates by a record 5.4%. They’re now expecting earnings to jump 18.4% over the year ago quarter.”

Wall Street is particularly bullish on banks, doubling their earnings expectations for the financial industry across the board.

We won’t have to wait long to see if the Street got this one right; JPMorgan, Citigroup, and Wells Fargo all report today among others.

Today’s market action will be exciting. We’ll be watching closely.

Rising interests rates, Trump’s tax cuts, and strong projections for economic growth should be the perfect catalyst for earnings in the financial sector.

CNBC claims this mix is “an especially powerful profit formula for the banking industry.”

We covered Wells Fargo (NYSE: WFC) earlier in week. Still the same story there.

Regulatory issues could be too much to handle for WFC, despite high expectations for the sector as a whole.

If there’s a lame duck amongst the banks, this stock appears to be the one.

JPMorgan (NYSE: JPM) looks like it could the strongest of the the group posting earnings today.

JPM is projected to show earnings-per-share gains of $2.27, according to Barron’s. The stock is up 2.5% since Thursday.

Citigroup Inc. (NYSE: C) also looks like it’s going to be a winner today.

Analysts estimate revenue growth of 2.7% and profits are expected to grow 1.4%, to $4.1 billion, according to The Wall Street Journal.

Overall things are looking good to start the Q1 earnings season. At least for banks.

Hopefully the return to fundamentals will quell the market’s volatility.

It’s really time the geopolitical narrative takes a back seat. Enough is enough.

Afterall it has nothing to do with the markets day-to-day.

Folks forget that all too often

Profits and costs.

That’s what matters in business. That’s what matters in the markets.

It always has and always will.

Now, turning to the markets this morning…

Market Rundown for Fri. April 13,

S&P 500 futures are up 5.25 at 2,669.

Oil’s down slightly to $66.88.

Gold’s down $1.30 to $1,340.

Bitcoin’s back on the rise, now at $8,185, according to CoinDesk.

Yesterday the headlines for BTC implied a run-up was coming soon. Maybe this is the start. We’ll wait a few more days before we buy in.

We’ll talk again on Monday.

For the Rundown,

Aaron Gentzler

Aaron

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Aaron Gentzler

Aaron Gentzler is the publisher of Seven Figure Publishing. He is also the editor of The Rundown and has been with Agora Financial / Seven Figure Publishing since 2005. He's been covering technology and markets for over a decade.

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