Morning Preview: Get Ready For Earnings From J.P. Morgan and Wells Fargo

1.) J.P. Morgan Chase $JPM reports earnings on Friday and what they say could signal-handedly change the direction of the entire market. On StockTwits, we are already beginning to see an uptick in message volume. But what’s most interesting is the massive rise in bearish sentiment about $JPM. Analysts expect EPS of $1.41 and revenue of $24.55 billion, but sentiment seems to be pricing in a possible miss:

$JPM earnings tomorrow. Sentiment on StockTwits dropping on increasing message volume:

— stefan cheplick (@scheplick) Apr. 10 at 08:08 AM

JPMorgan Chase & Co. to release Q114 earnings on Friday. Analysts expect 1.41 EPS. $JPM

— Analyst Ratings Network (@AnalystRatingsNetwork) Apr. 10 at 01:22 AM


2.) Wells Fargo $WFC also reports earnings on Friday. And like $JPM, their earnings report could have a monumental impact on markets. One of the most surprising facts about $WFC is that it’s up 8% this year. It’s one of the best performing large cap banks. $JPM is only up 1% and Goldman Sachs ($GS) is down 10%:

Wide dispersion of $XLF performance so far- $C $GS down >10%, $WFC leading the group +8.5% YTD

— Michael Batnick (@TheIrrelevantInvestor) Apr. 9 at 08:50 AM

Next year, $AMZN is expected to earn $4.24 per share, and $WFC is expected to make $4.27. AMZN is currently going for $327 and WFC is at $49

— Eddy Elfenbein (@EddyElfenbein) Apr. 8 at 11:23 AM


3.) Yesterday, the CBOE Total Put/Call Ratio recorded one of its lowest readings. This ratio measures all of the put options purchased against all of the call options purchased on a given day. A ratio above 1 tends to indicate bearish sentiment while a ratio below 0.6 is often interrupted as bullish sentiment. The S&P 500 ($SPX) climbed more than 1% yesterday, particularly after dovish comments from Janet Yellen. The CBOE total Put/Call Ratio hit a level no one should ignore:

put/call ratio 2nd lowest reading in 3 yrs. Extreme lows aren't clearly bearish $SPY

— Aaron Jackson (@a_jackson) Apr. 9 at 11:02 PM

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