Equities New York Outlook: Small plus expected before the start of the reporting season

Investors are eagerly awaiting the start of the reporting season. The US bank JPMorgan will kick off this Wednesday, followed by Morgan Stanley, Citigroup and Bank of America on Thursday.

At the same time, the focus remains on oil prices, which are still quoting above 80 US dollars per barrel and thus close to multi-year highs. However, their recent strong increase has currently weakened again somewhat. On both sides of the Atlantic, there are concerns that the oil price rally could lead to energy bottlenecks and stifle the global economic recovery from the corona pandemic. Apart from that, China is also being looked at, because the world’s second largest economy has been taking stricter regulatory action for some time, controls monopolies more closely and is probably expanding its reviews of the financial and banking system.

It should be relatively calm among the individual values. American Airlines shares might be worth a look as the airline made statements about the third quarter. For example, the company expects a decline in sales of 25 percent compared to the third quarter of 2019 and thus before the corona pandemic that broke out in early 2020.

Above all, the information on the quarterly net loss per share without special loans should be well received. The airline now estimates it at 0.96 to 1.04 US dollars, while the analysts have been reckoning with an average of 1.22 dollars so far. The share rose by a little more than one percent before the IPO ./ck/jha/

(AWP)

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