The ES got knocked like a mofo yesterday. The QQQ had it's largest single day drop since 2011. And like I mentioned yesterday, support is getting blasted through while resistance is being crept through if not outright denied. It opened yesterday at 1865 and closed at 1828. It traded at a high of 1832 and a low of 1814.50 at 0735hrs. It's currently hovering around 1820. The 10yr finished at 2.63 and the VIX finished at 15.8 after hitting a day high of 16.4.
$JPM is out with earnings this AM and the stock is trading down at 55.30 after closing at 57.43. It's down almost 6% since the open yesterday. Here's the overview from Marketwatch:
shares fell 3.2% premarket after it missed estimates. The biggest U.S. bank by assets said Friday its first-quarter profit fell to $5.27 billion,
or $1.28 a share, from $6.53 billion, or $1.59 a share, in the year-ago
period. Revenue fell 7.7% to $23.89 billion and mortgage originations
slumped 68% to $17 billion. Analysts polled by FactSet had expected
earnings of $1.39 a share on revenue of $24.43 billion.
And from Bespoke tweet on JPM:
$ misses EPS for fifth time in ten years; first miss in over two years.
$GPS is out with SSS which disappointed. It's thinly trading around 37.50 after closing around 39.25 yesterday. From MW:
late Thursday said its same-store sales fell 6% in March, steeper than
the 4.7% forecast by Thomson Reuters. The retailer also reaffirmed its
earnings guidance of $2.90 to $2.95 a share for the year. Gap shares
fell 4% in premarket trade Friday after falling more than 2% in after