We are going to hear from a lot of companies this week as they report earnings. The interesting thing is, that looking back really doesn’t tell the current story, and looking forward is as clear as mud. Companies are simply not going to be able to provide much guidance as they are just as in the dark as investors. So, as we hear this week from 3M, Caterpillar, Merck, Alphabet (Google), Pfizer, Starbucks, Facebook, Tesla, Microsoft, McDonalds, Visa, Ebay, Apple, Amazon, Honeywell, Southwest Airlines, Boeing, United Airlines and Exxon Mobil among many others, it will be very interesting to see how stocks react.
Today, stocks reacted quite well in anticipation. For the day the Dow Jones Industrial Average was up 358 points to close at 24,133. The S&P 500 was up 41 points to finish the day at 2,878. Gold was down $10 to trade at $1,725 per ounce, while oil was down $3.87 to trade at $13.07 per barrel WTI.
On the virus front, there is no real new medical news, but we are about to see some states start to open up for business, including right here in Texas. So, buckle up, it’s going to be a busy week of corporate earnings and COVID 19 headlines. We’ll keep you up to date.
Have a nice evening everyone.