Investors want to forget last week’s sell off, and look forward. But that may be hard to do as technically and politically speaking we are broken. Thankfully, earnings are better than expected with Q3 estimates only down 0.3% yoy.
Next week you want to pay attention to ” Target , Wal-Mart and Home Depot.
Consumer discretionary companies have outperformed the broader S&P 500 in earnings, with 72 percent of the companies in that sector beating analysts’ expectations, compared with 63 percent for the S&P 500 as a whole.
Investors will be paying close attention to those results with the holiday shopping period around the corner, said Rick Meckler, president of LibertyView Capital Management in Jersey City, New Jersey, which oversees about $1 billion in assets.”
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