Welcome to a new Earnings season! This week we are low on economic report – just FOMC minutes out on Wed – but heavy on company news with the Earnings season trickling in with Alcoa reporting after the close on the 8th, then some banking stocks follow shortly. Guess what, banks are being reported as big winners this quarter. In layman’s term, the banks it got it so bad already it couldn’t be worse! Dow Jones Newswires reports “The long-term bull case for large U.S. banks is that with the bulk of the major regulatory settlements behind them, the continued growth of the U.S. economy and a brightening picture for net interest margins over the next few years, earnings and valuations may rise big time.”
Also not to forget AAPL will start to take orders by April 10th, and there has been analyst projections that they could sell 1million AAPL Watches by this weekend. That would be news worth watching for.
Which you may or may not believe. As for me, I am keen to believe about the brightening growth and supported by the high level of Consumer Confidence reports, so I would say I would keep with financial stocks like Visa and MasterCard that keep the payments going but don’t fork out money themselves (whoever invented this business is genius!).
On the other hand, AAPL is starting to get orders for AAPL Watch by Apr 10 with 1 million projected for the weekend. Now I’d be watching that!