JPM beat on earnings, but so far this morning there is a fairly tepid response to the futures. Alcoa and CSX have done nothing since their “big” report and Intel managed a paltry gain of about .30 cents yesterday after the greatest blowout number in their history.
Maybe the market is a bit exhausted after running up for seven days on anemic volume or maybe it is just getting ready to blow through 1000 and take us up to 1017. The S&P has tried to kiss 1000 the last two days and earnings season hasn’t even broken a sweat yet, still plenty of reports on the horizon. We have GOOG and AMD after the close of trade today and BAC, GE, and C before the open tomorrow.
China reported on Thursday a slowdown in second-quarter economic growth, along with an easing in a number of other indicators for June, showing the nation’s rapid expansion was beginning to cool as Beijing withdrew some accommodative policies. Have a great day.
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