Earnings & Expectations

Good morning. Heading into the second trading day of the week, we have a very similar setup as we did yesterday morning at this time - lots of earnings reports, record high oil prices, and mixed premarket futures.

Premarket gainers: VLTR, BMTI, ZRAN, INFN, DXCM, WGOV, FTEK, ICO, FOE, BSX, MHS, MICC, STLD, LOGI, T, JBLU, NBR, TOMO, EFUT, ZILA, BMTI, CE, ASIA, JRCC, AGU, FUQI, SID, CVTI, EAT, DRYS, TTEK, FWLT, and HCBK.

Premarket losers: OMCL, BRKR, NFLX, CIT, TLAB, TXN, NVLS, GENZ, UNH, KLAC, BJS, UNH, PKG, NVLS, CNB, NVUS, ALO, CNI, RBS, CME, MSPD, GENZ, COH, USNA, and CPO.

At 10:AM we have existing home sales, Richmond Fed Survey, and the State Street Investor Confidence Index, but reaction to earnings will dictate overall market direction. According to Bloomberg, analysts estimate that earnings at S&P 500 companies will decline 13.7% in the first quarter and 4.3% in the second as overall expectations are headed higher once again.

Have a terrific Tuesday!