Sage Investment Club

The US stocks are looking to open negative with the futures currently pricing:

The major indices are on winning streaks that are in threat of being broken today.

  • Dow Industrial Average and the S&P have been higher for three consecutive days and four of the last five trading days
  • NASDAQ index is on a five day win streak.

Coming into today, the Dow was up 1.66% for the week. The S&P has a gain of 2.26%, and the NASDAQ is up 4.09%

Tesla shares are trading down -5.93% in premarket trading on the back of a Guggenheim downgrade to sell, and announced lower prices in Europe and the US for their models.

Earnings season got underway today with a slew of financials which showed mixed results. Most of the companies who announces are lower in pre-market trading (see Adam’s post for some commentary from the companies executives by clicking HERE):

  • J.P. Morgan shares are trading at $135.50 after closing yesterday $139.49
  • Citigroup shares are trading at $48.72 after closing of $49.09 yesterday
  • Wells Fargo is trading at $41.26 after closing at $42.83

Unitedhealth (a Dow 30 stock) also announced and it is trading lower at $489 after closing at $495.67. Delta Airlines is also lower at $37.20 after closing at $39.60.

It’s not a good start to the earnings season.

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