Could be a rough morning for U.S. large bank stocks, including sector leaders Bank of America Corp (NYSE: BAC) and Citigroup Inc (NYSE: C) if the GDP numbers fail to impress investors.
Some media outlets, such as MarketWatch, are weighing the possibility of weaker than expected GDP data this morning. At the time of writing this, U.S. futures are also down markedly in anticipation of the numbers: Dow index futures are down 29 points, while the Nasdaq futures are down 5.75 points.
To play contrarian here, however, if the GDP numbers are even remotely decent... you could see some investor relief, and BAC shares could rally somewhat in the first couple hours of trading.
What do you think? Will the numbers suck? Share your predictions and thoughts in the comments section directly below. We read everything, and publish almost everything.
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gdp could be as low as 2% in my opinion.
great site outlaw, thanks for always calling it like you see it.
Posted by: eric | 07/30/2010 at 07:49 AM