Investors Are Looking for Some Clarity From the New Earnings Season, But Likely Won't Get It
Big banks like JPMorgan Chase kick off earnings season on Friday on a good omen: Banks are strong going into earnings season. "This is the first earnings season in recent memory where banks have been leaders going into earnings season," said Tactical Alpha's Alec Young. Indeed, the SPDR Bank ETF (KBE), a basket of large banks, is up 30% since the November election, far outperforming the S&P 500. And unlike much of the market, bank stocks are not overpriced. "They have a lot of room to move up, they are not expensive," Young said. Why we need guidance now "As earnings season gets underway...
Source: nbcconnecticut.com