Kick Off Time!
Markets are testing the downside in choppy morning trade as investors approach the kick off to a mass of earnings releases this week with caution. Over 800 companies and half of the Dow components release earnings results this week.
Preliminary earnings have given participants little to cheer, so far, with early results coming in no more than one or two cents above views, despite heavy downward guidance in the prelude to earnings’ releases.
The Dow is down 37 at 10,500, the Nasdaq is down 45.59 at 2039, and the S&P 500 is off 9.69 at 1205.91.
Selected financials and banks are getting a boost following Citigroup’s
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SBC Communications
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Biotech
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Also in this group, Landry pointed out that Abgenix
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No sector is up more than 1%, while oil services
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