It’s All About Earnings + Green Wave + Chart Talk: Bitcoin
By Blanke Schein Wealth Management on April 27, 2021
It’s all about Earnings (Source: CNBC.com)
Earning Update
S&P500 EPS Est. Rising
Out of 153 reported…..
- 88% beat estimate
- Ave earning beat: 17.2%
- Q2 Est Raised: 60%
Profit Margins
Holding up so far
- Blended S&P Profit Margins: up 11.6%
- 3rd highest since tacking began in 2008
- Expected to hold above 11% for the rest of 2021
Are you ready for some earnings? Investors certainly are. Stocks are slightly higher while we await the release of first quarter numbers from more than one-third of S&P 500 companies coming this week. The biggest of the big tech firms are going to report including Apple, Alphabet, Microsoft, Facebook, Amazon, and Tesla (see below). Boeing, Exxon Mobil, Caterpillar, and Visa are just a few of the others ready to open their books.
Merger and acquisition (M&A) activity involving W.R. Grace, Flagstar Bancorp and Proofpoint lifted those companies’ shares and boosted market sentiment.
Cryptocurrencies are bouncing back after last week’s big selloff when Bitcoin fell below $50,000 on reports President Biden wants to raise capital gains taxes. Today, the digital currency rose as high as 14% above its recent lows after CoinDesk reported JPMorgan Chase will offer an actively managed bitcoin fund for its wealthiest clients.
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