Fundamental analysis
15 January, 2021
Research Department
U.S. stock index futures slipped on Friday as optimism over a $1.9 trillion stimulus plan unveiled by incoming President Joe Biden faded with investors turning to quarterly reports from major Wall Street banks. JPMorgan Chase and Citigroup Inc will unofficially kickoff the fourth-quarter earnings season before the bell and investors will focus on their outlooks to validate expectations for a strong 2021 rebound in earnings and the economy. Earnings for S&P 500 companies are expected to decline 9.5% in the final quarter of 2020 from a year ago, but are expected to rebound in 2021, with a gain of 16.4% projected for the first quarter, according to IBES data from Refinitiv.