Financiers are indicating suspicion and skepticism surrounding positive banking results from last week.
Suspicion and skepticism are regarded as valuable commodities in the present harsh climate. Although many financiers express optimism over the six week rally period, no one is saying the recession is ending.
Futures are down as a result of the suspicion but the market has shown an ability to make gradual u-turns during the trading.
I still think its a bear market rally and nobody wishes it were not more than I.
Reuters: Stock futures extend losses after Bank of America results
Reuters: Earnings deluge may stall Wall Street rally
...the corporate outlook remains murky and investors worry that better-than-expected results from banks still don't prove the sector is stable.
Economic indicators will be relatively light in the coming week, keeping earnings on center stage.
No comments:
Post a Comment