This Week in Markets: Big Banks Report Earnings

published on July 20, 2020

it's an exceptionally busy week john farrow we're very clear we cannot forecast the future we don't know you're going to have a much murkier economic environment

Going forward than you had in may and june we expect the impact of covid to continue to negatively impact our earnings until we see a clear trend of meaningful improvements in unemployment and gdp well i think

Certainly as earnings kind of kicks off in earnest this week it will it will be a tough test for stocks i think crucially you know it's less really about kind of the backwards looks looking figures that are going to be

Released but it's more about kind of the company narrative about the outlook ahead an equity market is breaking down a little bit this morning we see nasdaq and tag-related names giving back

A little bit in a week where there has been a vaccine development or positive news this is not surprising you know i think we've got a couple things going on there's a little bit of nervousness

Whether we're going to get the fiscal stimulus extensions that we're looking for and then i think some of the high flyers maybe have grown too high you know the market has been really so

Driven by just a few stocks that i think any weakness there kind of very quickly translates to the broad market you get volatility when there's a lot of people trying to get in and out of

Market the us market has a solid trend the reason why emerging markets are currently you know at s p volatility is there's not that much money trying to transact within you know within that market

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