Dr. Anthony Fauci, director of the National Institute for Allergy and Infectious Disease, told Facebook’s (FB) Mark Zuckerberg that he expects results for a clinical trial on monoclonal antibodies by late summer or early fall.
Mixed economic data out of China was offset by another uptick in reported COVID-19 cases in Japan and the U.S. We’d also note U.S.-China tensions are likely to mount further following the U.S. imposing travel sanctions on Chinese tech companies like Huawei.
While we enjoy the hopeful news regarding a COVID-19 vaccine, we suspect U.S.-China tensions will once again resume its place as the main driver of the stock market narrative.
This morning, JPMorgan Chase (JPM) and Wells Fargo (WFC) reported Q2 2020 earnings. Their results could not have been more different and the nature of the difference points to three important takeaways for investors.
You would be hard-pressed to find a bank that is executing better than Bank of America (BAC), which has beaten earnings estimates in thirteen straight quarters.
Wells Fargo (WFC) is not completely out of the penalty box, even as it has shown drastic operational improvements. The bank not only generated over $4 billion in profits last year, it also improved its efficiency ratio, making it less risky. But it’s still not enough.
The bank’s earnings are expected to be much lower in 2020 than they were in 2019. But that should be expected, considering the coronavirus-induced recession the nation is facing, coupled with business closures.
The second quarter earnings season of 2020 is finally here. One way or another, the list of concerns the market has had regarding the devastation the coronavirus pandemic had on corporate profits will be realized.
Momentum and optimism rule the day as markets around the world continue to be unaffected by rising coronavirus cases, and the near-daily bankruptcy announcements as the health crisis evolves into an insolvency crisis.
Momentum and optimism rule the day as markets around the world continue to be unaffected by rising coronavirus cases, and the near-daily bankruptcy announcements as the health crisis evolves into an insolvency crisis.
U.S. companies are preparing to open their books on a quarter that is set to show the biggest earnings fall since the financial crisis, leaving investors looking for light at the end of the tunnel.
U.S. companies are preparing to open their books on a quarter that is set to show the biggest earnings fall since the financial crisis, leaving investors looking for light at the end of the tunnel.