HIBL - Q1 2024 Earnings Preview: Will Reports Be Good Enough To Turn Markets Positive

2024-04-11 10:00:00 ET

Summary

• Important earnings season ahead as investors look for signs that we are still in soft landing territory despite persistently strong economic data that’s helping to delay rate cuts.
• Q1 S&P 500 EPS growth expected to come in at 3.2%, the third consecutive quarter of growth.
• Banks on deck this week: investors hoping for improved lending, investment banking conditions, but headwinds still persist.
• Peak weeks for Q1 season run from April 22 to May 10.

After Breaking Records in Q1, Major Indices Kick Off Q2 on a Tepid Note

The second quarter got off to a bit of a rocky start as major indices headed lower last week. The S&P 500 and DJIA ended the week down 0.1%, while the Nasdaq Composite fell 0.04%. Investors were feeling skittish due to a spike in oil prices, and stronger than expected jobs numbers which came when March JOLTs were released Monday, April 1, and nonfarm payrolls, unemployment and wage growth on Friday, April 5. This latest jobs data has investors questioning the pace and timing of rate cuts this year, with the probability of only two rate cuts increasing according to CME Group's FedWatch tool. ¹ ...

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