This Blog is also available as an RSS Feed

Third Quarter Earnings High on Wall Street Agenda

17 October 2011 - News - Editor

Following a two-day meeting in Paris, finance ministers from the G20 countries revealed that they will take whatever action deemed necessary to ensure sufficient capitalization of banks and to stabilize wavering global financial markets. This pledge from the world's most powerful and influential economies comes hot on the heels of pledges by France and Germany to work together to rescue Eurozone countries in crisis. In a statement by US Treasury Secretary Tim Geithner he noted that delegates at the weekend meeting heard encouraging things from European authorities regarding a comprehensive strategy to deal with Europe’s financial crisis.

In the week ahead, Wall Street investors will no doubt be keeping a keen eye on developments in Europe amidst growing fears of European banks failing, tempered with hope that revisions to the European Financial Stability Facility will create what it was set up to do – create stability. Further strategy details are expected to be unveiled at the G20 meeting to be held in Cannes in November.

High on the Wall Street agenda this week, close to fifty percent of the 30 Dow components will be reporting third quarter earnings, while 96 S&P 500 companies will make their earnings known. Traditionally the first to publish quarterly earnings, Alcoa's results released last Tuesday failed to meet expectations, resulting in a 2.4% drop in the aluminum producer's stock prices. The company has noted, however, that global demand for aluminum continues to increase, and with Alcoa supplying virtually every manufacturer using this versatile product, it remains a popular choice for investment portfolios.

It is anticipated that earnings for S&P 500 companies will have increased by 23 percent for the third quarter of this year, with revenues of companies expected to have climbed by 10 percent. Stocks on Wall Street performed well last week with the Nasdaq Composite and S&P 500 reaching levels last seen in 2009, and analysts have noted that market movement is likely to be most impacted by corporate results this week. Financial sector companies reporting in the upcoming week include Wells Fargo, Goldman Sachs, US Bancorp, Citigroup, Bank of America and Morgan Stanley. Reports are also expected from Intel, Apple, McDonalds, General Electric, and Southwest Airlines.

 


Bookmark and Share

jalith: need the information how to start invest in stock market...
www.stockmarkets.com/personal-finance/


StockMarkets.com Team: Thank you for visiting StockMarkets.com. We do not represent the South Pacific Stock Exchange, so pl...
www.stockmarkets.com/exchanges/australasia/south-pacific-exchange/


milika: Can you please give me the listed companies that are in SPSE for my assignment purpose because it is...
www.stockmarkets.com/exchanges/australasia/south-pacific-exchange/


bob: you make loud boasts , but can you show me the opening and closing of the market indexs in South Ame...
www.stockmarkets.com/exchanges/south-america/


kennedy edahdike: with a dynamic emerging global power,a bouyant stock market is a sine qua non for develpoment,the po...
www.stockmarkets.com/exchanges/asia/chinese-stock-exchange/