Last Friday was an interesting day as the market rallied into the close led by names that are slated to announce earnings this week. Namely, AAPL, MSFT, FB, GOOG and AMZN.
On Monday, the dynamic shifted, not for the market, which performed well, but for the companies announcing earnings this week. It was Financials that led the way.
These big names that make up 20% of the market cap of the S&P 500 could have an outsized impact if the herd starts to turn bearish on these stocks over earnings.
“You can play with your phone or change the world. You don’t get to do both.” —Robin Sharma
April 28, 2019