“In addition, we are edging up on the earnings season, and while this week we will see no S&P 500 companies report, early indications are that when companies do begin to report next week they are likely to reveal solid year-over-year profit increases, despite the lackluster recovery,” the strategist wrote.
U.S. stock futures slipped Wednesday following a rate hike in China and a Moody’s downgrade of Portugal’s debt rating. [Portugal, China Rattle Markets]
iShares S&P 500
Tisha Guerrero contributed to this article.