Earnings Season Kicks Off – Markets Rally

Earnings season kicked off yesterday after the close. Upbeat reports from Alcoa and CSX are some of the more major headlines out there sending futures higher. Both Alcoa and CSX say volume and sales increased during the second quarter, a welcome sign during a period where most economic reports showed the economy was expanding but at a much slower pace that many traders had hoped.

Here’s a break down of the different earnings reports by day. Clearly most of the reports don’t come out until next week and the week after, but the big names are early.

For the broad markets, my open interest target from last week is now within reach. Amazing once again how options trading helped determine where the market would be even BEFORE the move happened.