Aha! But, there is clear anxiety including:
- Earnings recession
- Trepid job growth
- Sluggish global economy
And, the CEO of Kate Spade made this remark as the company badly missed earnings consensus:
"Several factors contributed to our second quarter results falling short of our expectations, the most impactful of which are the retail landscape and continuing tourist headwinds.”
The bottom line is anxiety dominates this market and we didn’t get a lot comfort after the close.
- TRIP shares are getting hammered on its earnings report.
- TSLA saw revenue of $1.56 billion, which missed consensus, and the loss of $1.06 was far worse than expected.
- 21st Century Fox posted revenue of $6.65, and earnings of $0.45 well above the $0.36 consensus as record ratings continue to power the company.
- Jack in the Box blow away consensus and the stock is higher despite cautious guidance.
- And Jack Dorsey is a winner as Square posted financial results that crushed top and bottom line estimates and raised guidance.
Overall, the market held when it had to, and is still positioned for the next leg higher, but it needs a perfect jobs number on Friday.