Cboe’s Market Recap: April 11 To April 15

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One quarter into 2022, the markets are still experiencing drawbacks.

Cboe Global Markets Inc. CBOE reports a decline in a number of U.S. funds tracking major indices, including the Nasdaq 100 Index, the Russell 2000 Index and the S&P 500 Index. Similar weakness is observed in European stock markets, specifically in Germany’s DAX 30, France’s CAC 40 and Europe’s MSCI European.

Delta Airlines Inc. DAL wins this week’s chart of the month following a promising earnings report.

This short glimpse of optimism is overshadowed by the stock market’s weakness, one that extended onto the cryptocurrency scene and its major coins. Finally, Cboe notes important upcoming earnings that may lift investors’ eyebrows in the following week.

Quick Bites

Exchange-Traded Funds (ETFs)

The SPDR S&P 500 ETF SPY declined 2.19% last week, extending the prior week’s 1.18% descent.
The Invesco QQQ Trust Series 1 QQQ declined 3.07% last week, slightly less than the prior week’s 3.51% fall.
The iShares Russell 2000 ETF IWM increased 0.55% last week, showing unusual strength relative to other indices. It maintains its 12-week range between the $212.25 and $187.92 price levels.
The Cboe Volatility Index™ VIX closed at 22.7 last week compared to last week’s close of 21.17.

World Markets

The MSCI European ETF IEUR declined 0.98%, marking the second week of consecutive drawdowns.
The iShares FTSE 100 ISF rose 0.35% week-on-week, extending last week’s newly formed high.
The iShares DAX 30 EXS declined 0.83% week-on-week.
The Lyxor CAC 40 ETF CAC increased 0.73% week-on-week.

Chart Of The Week: DAL

This photo was taken from the TradingView platform

Shares of airline operator Delta Airlines jumped 7.19% on earnings, rising roughly 2.8 points in premarket trading. The company reportedly notched a loss of $1.23 a share, compared to Wall Street's $1.27 estimate, on total revenue of $9.3 billion, compared to analyst predictions of $8.8 billion, in the first three months of 2021.

Delta sustained its premarket gap, closing up 6.21% on April 13 and up another 3.27% the next day. The latter performance is particularly notable, as the SPY declined 1.25% and the QQQ dropped 2.29% at the same time.

Major Cryptocurrencies

- Bitcoin BTC/USD declined 4.46% last week, forming a streak of three consecutive losing weeks as of Friday, 12 p.m. EST.
- Ethereum ETH/USD declined 5.88% last week, marking a two-week streak of losses as of Friday, 12 p.m. EST.
Solana SOL/USD declined 8.43% last week, following an 18.86% decline the week before.

Upcoming Earnings And Catalysts

April 18

Bank of America Corp. BAC and Charles Shwab Corp. SCHW report earnings on Monday, April 18, along with a long list of financial institutions. The earnings estimate is $0.75 per share for BAC and $0.85 for SCHW.

April 19

Several major corporations report earnings on Tuesday, April 19, including historical performer Johnson & Johnson JNJ and streaming-services leader Netflix Inc. NFLX.

According to Kiplinger, consensus estimates are for Johnson & Johnson to report revenue of $23.7 billion, an increase of 7.7% year-over-year (YoY), and earnings of $2.61 per share ( up 0.8% YoY), while estimates for Netflix are to report earnings of $2.90 per share (down 22.3% YoY) and revenue of $7.9 billion (up 10.7% YoY).

Citizens Financial Group Inc. CFG, Interactive Brokers Inc. IBKR, Lockheed Martin Corp. LMT and International Business Machines Corp. IBM also report earnings on this day, with per-share earnings estimates set at $0.91, $0.82, $6.21 and $1.41, respectively.

April 20

Electric-vehicle manufacturer Tesla Inc. TSLA, capital markets group Nasdaq Inc. NDAQ and United Airlines Holdings Inc. UAL report earnings on Wednesday, April 20.

According to Kiplinger, on the top line, the consensus estimate is for $17.8 billion, up 71.2% year-over-year (YoY) and earnings of $2.26 per share – a marked improvement over $0.93 per share reported in the first quarter of 2021.

Per-share earnings estimates for NDAQ and UAL stand at $1.94 and negative $4.23, respectively. Steel Dynamics Inc. STLD and Procter & Gamble Co. PG also reported earnings, with per-share earnings estimates standing at $5.55 and $1.30, respectively.

April 21

AT&T T, Snap Inc. SNAP and Union Pacific Corp. UNP report earnings on Thursday, April 21 with per-share earnings estimates set at $0.59, negative $0.17 and $2.56, respectively.

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