Banks kicked off earnings season in decent fashion, but so far the picture hasn’t been terribly pretty.
With a pretty limited sample size to draw from, S&P 500 companies so far are showing growth of just 2.1 percent, according to FactSet. As recently as Sept. 30, analysts figured the number would be closer to 3 percent.
This week brings a big slate. A few highlights: Netflix reports Monday; Goldman Sachs, Johnson & Johnson, Morgan Stanley and IBM happen Tuesday; Wednesday will see American Express; Thursday’s big one is Verizon and Friday features GE and Procter & Gamble.
On the economic front, highlights will be industrial product on Tuesday, housing starts and the Fed’s Beige Book of regional economic reports on Wednesday, jobless claims and the Philadelphia Fed manufacturing index comes Thursday, and Friday will be existing home sales.
Lots of market movers there.