Monday’s markets will open with the first-quarter earnings season dominating the stock headlines. Last Friday, JP Morgan’s (JPM) weak outlook shook the markets, with the S&P 500 (SPY) down by 1.38%.
Watch Goldman Sachs (GS), after shares broke out above $400, topping $419.20 but closing at $389.49. The firm needs an increase in merger and acquisition, and IPOs, plus must announce a dividend and buyback increase. Without them, GS stock risks peaking at $400.
Trading firm Charles Schwab (SCHW) risks breaking its yearlong uptrend and 34.88% gain. Still, after Robinhood Markets (HOOD) gained 79.52% in the year following its quarterly report, SCHW stock might impress investors with strong earnings results.
Bank of America (BAC) will post results on Tuesday. Just as bank stocks fell last week, BAC stock may fall. To avoid falling, the stock needs market sentiment to return to overbought, excessive bullishness conditions.
United Health (UNH) tried on many occasions since October 2023 to break out above $550. Bullish momentum reversed abruptly after Humana (HUM) stock plunged. Reports that executives sold $102 million in shares are not helping. They allegedly sold shares before the Department of Justice publicly accused it of antitrust business practices.
