After a dismal end to April for U.S. stocks, Wall Street analysts expect U.S. stocks to get off to a rough start next week, but the earnings season continues, advising investors to prepare for a market rebound.
Due to poor financial forecasts from Intel, Amazon and Apple, the VIX panic index rose to more than 33, and technology stocks slaughtered violently on Friday (29th).Dow Jonesplunged 939.18 points,that fingerIt collapsed 4.17%, and the S&P plunged 3.63%.
Dow JonesWith the S&P posting its worst April performance since 1970,that fingerIt was also the worst April since 2000.10-Year U.S. Treasury YieldIt rose above 2.90% on Friday and posted its biggest monthly gain since 2009.
Jim Reid, head of thematic analysis research at Deutsche Bank, said the hardest truth is that since the start of data records in 1973, only 4 times (including this month) have seen S&P monthly returns fall by more than 5%, while U.S. Treasuries have fallen by more than 2% of the month.
Looking forward to the future, Jim Cramer, a well-known foreign financial host, said: “Investors hope that next week will be better? I have to tell you that next Monday will not have a good day, when everyone has a bad day like Friday, but If the positive earnings report can bottom out some stocks, I suggest that everyone must sell on rallies.”
Cramer offered his personal insight into next week’s corporate earnings report, saying that Clorox (CLX), the world’s leading producer and distributor of consumer products, would have to release a stellar earnings report or forecast on Monday to be able to raise the issue. boost investor confidence. Starbucks’ earnings after Tuesday will reflect the impact of the coronavirus lockdown in China.
However, he thinks investors can look forward to Airbnb (ABNB-US)’s earnings report, he expects Airbnb to report a stellar earnings report, and the stock will rebound. In addition, on Wednesday, CVS Health (CVS-US) and Modena (MRNA-US) earnings could also be good news, as these companies benefit directly or indirectly from a Covid-19 vaccine.
Next week will focus on the U.S. non-farm payrolls report, with Cramer predicting that the employment data may have peaked as companies in some industries that have benefited from the outbreak have started laying off workers.