BLK, GS and JPM Forecast – US Financials Ready to Rip Higher?

BLK Technical Analysis

BlackRock is up drastically in the pre-market trading as the stock looks like it’s going to open above $1,000. You can see that the earnings were extraordinarily strong. It was a 6.13% surprise to the upside in earnings and up about 2% in revenue. So of course, BlackRock is rallying. Plus, on top of that, CPI came in cooler than expected. So, Wall Street’s celebrating.

GS Technical Analysis

Anyway, Goldman Sachs is off to the races with its earnings call this morning, showing the surprise of a 45.5% over in earnings and a 12.23% surprise to the upside in revenue. It looks like Goldman Sachs is going to do everything it can to threaten the recent highs at the $612 level. The market should see a bit of “market memory” in that general region. Ultimately, this is one to watch.

JPM Technical Analysis

JP Morgan went off to the races as well and could very well break out to a fresh new high here sometime during the session. Its earnings call came out at a surprise 17.48% in earnings and 2% in revenue. All of the financials love the idea of rates dropping a little bit here as it brings more animal spirit into the market. And of course, across the board, all had better than the anticipated earnings call.

This will be like rocket fuel for these. stocks and it does look like they will probably drag the market higher with them. These are three huge financial companies in the United States, so this gives quite a bit more cover for other stocks as well.