Can it be? Bank earnings kick off the quarterly earnings calendar next week.

It seems like only yesterday we had the last earnings cycle

Earning's for the quarter kickoff next week with financials and banks leading the charge
Can it be?
Next week bank earnings will kickoff the quarterly earnings calendar.  It seems like only yesterday that the last quarter was complete.
The thanks/financials traditionally are the first to report, but other names are in the mixed.
Some of the major releases include:
  • J.P. Morgan
  • BlackRock
  • Delta Airlines
  • Citi
  • Domino’s pizza
  • Bank of America
  • Walgreens
  • Morgan Stanley
  • Wells Fargo
  • U.S. Bancorp
  • UnitedHealth Group
  • Goldman Sachs
  • PNC
  • Truist
  • JB Hunt
That’s just the start, but it is the start.

BlackRock on ‘unprecedented policy actions to limit the coronavirus shock’

BlackRock is the world’s largest asset manager (circa $7.4 trillion in assets under management)

Given the surging equity markets (more ion this in just a moment) the comments from their latest update might appear stale (ps. these below relate to a credit view, not equities) :
  • Unprecedented policy actions to limit the coronavirus shock and sharply lower valuations have improved the outlook for credit, in our view. 
  • Major central banks are committed to keep rates low and greatly expand their balance sheets. 
More specifically on stocks (bolding mine):
  • We previously downgraded global equities to neutral. The coronavirus outbreak is disrupting economic activity and supply chains. The outbreak also poses risks to corporate earnings, in our view. Accommodative monetary policy is a support. We now favour rebalancing back toward benchmark weights as markets fall.

Buffett builds Munich Re stake

Munich_ReWarren Buffett, the US investor, has expanded his reinsurance holdings by becoming one of the largest shareholders in industry giant Munich Re. Buffett has built a stake worth €660m ($934m) in the German reinsurer, according to a market announcement triggered when his stake rose above 3%. It makes him the second-largest investor in Munich Re, after US asset manager BlackRock with almost 4.6%.

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