Stocks are rebounding on Tuesday thanks to a rally in crude oil as well as more dovish comments from Federal Reserve officials.
Today, Philadelphia Federal Reserve President Harker said it would be again — temping some of his previously hawkish commentary.
Also benefiting has been a , the fourth such cut in the last 12 months, which raises hopes of further policy stimulus.
But the biggest catalyst remains the continuation of the first-quarter earnings season that started on Monday. The calendar will be heavy with financial earnings later this week. Here are three stocks to watch.
Bank Stocks to Watch: Bank of America Corp (BAC)
Bank of America (BAC) shares, like many financial stocks, have been drifting lower as the recent strength in long-term Treasury bonds have pressured net interest margins.
Last week, BAC shares dropped below their 50-day moving average for the first time since March, as its stochastic indicator flashes a downtrend signal for the first time since December. Shares are rallying back toward the 20-day moving average on Tuesday as the consolidation near $13 continues.
Edge Pro subscribers are ready with a position in the $13 BAC puts.
The company will report results on April 14 before the bell. Analysts are looking for earnings of 22 cents per share on revenues of $20.3 billion.
Bank Stocks to Watch: Citigroup Inc (C)
Citigroup (C), like BAC and other financials, looks ready to resume the downtrend that started last July as the February-March rebound loses steam.
The hold above the 50-day moving average looks tenuous at best although the stock is challenging its 20-day moving average on Monday in mid-day trading.
The company will report results on April 15 before the bell. Analysts are looking for earnings of $1.09 per share on revenues of $17.6 billion.
Bank Stocks to Watch: JPMorgan Chase & Co. (JPM)
JPMorgan Chase (JPM) shares are consolidating between $60 and $58 — continuing a trading range that’s been in place since early March. The stochastic indicator is flashing a downtrend signal after coming out of overbought territory for the first time since December, however, so watch for a move to test support near $54.
The company will report results on April 13 before the bell. Analysts are looking for earnings of $1.26 per share on revenues of $22.8 billion.
Anthony Mirhaydari is founder of the and investment advisory newsletters. A two-week and four-week free trial offer has been extended to InvestorPlace readers.
