GO
Loading...

This Earnings Season May Be Better Than Expected

A worker walks among rolls of semi-finished aluminum at an Alcoa aluminum factory.
Getty Images
A worker walks among rolls of semi-finished aluminum at an Alcoa aluminum factory.

A better than expected earnings season? It's early, but I see signs that things may be a little better than some were expecting:

1) Alcoa was surprisingly bullish on China, talking about growth in automotive, heavy trucks, and building and construction, and beverage packaging;

2) Danaher, a widely watched multi-industry firm with interests in healthcare and industrial businesses, said earnings would be above expectations and that the gains were "broad-based across most of our businesses,"

3) disc drive maker Seagate raised its revenue forecast;

4) jeweler Signet said yesterday holiday season same store sales were up 3.3 percent, higher than expected.

Again, it's early, but these news pieces are impacting all their respective sectors.

Meantime: keep an eye on bank stocks. They've been market leaders, but they were being sold early on today. On an up day, Bank of America, JPMorgan, Citi and others are down.

It's a little odd, because banks typically sell off immediately after earnings start to come out, not before.

This may be because better news in Industrials and Techs (see above) are causing some money to move out of Financials.

Symbol
Price
 
Change
%Change
AA
---
DHR
---
STX
---
SIG
---
BAC
---
JPM
---
C
---

Featured

  • A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

Wall Street