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Phil Orlando, chief equity market strategist, at Federated Investors, in New York said he has been encouraged by quarterly results even though it was early in the reporting season. “To some degree it could be some concern because we know it’s a big earnings week. What will the overall tenor of this week look like by Friday?” said Orlando. Orlando was impressed with the latest GDPNow forecast from the Atlanta Federal Reserve for a first-quarter expansion of 2.8% compared with a 0.2% forecast a month ago.

“That tells you the data has turned around and maybe earnings aren’t going to be so bad,” he said, S&P 500 profits are expected to drop cufflinks online 1.7% year-over-year, according to Refinitiv data, in what would be the first earnings contraction since 2016, But more than three-quarters of 82 S&P 500 companies that have reported so far have surpassed beaten-down expectations, With the S&P trading at less than 1% below its record high reached in September, investors were also waiting for upcoming data such as first-quarter GDP before making bigger bets..

“It’s important at this point to sit back and reflect on what the prospects are that will take us forward. It’s appropriate to see what we’re seeing today,” Ryan Larson, head of U.S. equity trading at RBC Global Asset Management in Chicago. The Dow Jones Industrial Average fell 48.49 points, or 0.18%, to 26,511.05, the S&P 500 gained 2.94 points, or 0.10%, to 2,907.97 and the Nasdaq Composite added 17.21 points, or 0.22%, to 8,015.27. The S&P energy index jumped 2.1% in its biggest one-day percentage gain since January, as oil prices surged on the United States’ move to further clampdown on Iranian oil exports, tightening global supplies.

But seven of the 11 major S&P sectors ended the day lower, led by a 1% drop in the real estate index, Intuitive Surgical Inc fell 7% and was the biggest drag on the S&P 500 after the surgical robotics maker’s quarterly profit missed analysts’ estimates, Kimberly-Clark Corp gained 5.4%, touching a near two-year high, after the consumer products maker reported better-than-expected earnings, The PHLX Housing index fell 0.97% cufflinks online after data showed U.S, home sales fell more than expected in March, pointing to continued weakness in the housing market..

(Reuters) - Halliburton Co sought to convince investors on Monday that weak pricing which has undermined oilfield services providers over four years was on the verge of turning a corner. Better-than-expected revenue in North America, along with the company’s claim that prices were bottoming out, initially drove shares in the oilfield services giant almost 5 percent higher after it published first quarter results. But analysts and investors were unconvinced by a post-earnings conference call with management, which gave little hard evidence and left doubts over future pricing at a time when oil producers have been cutting investments.

Shares ended the day down four cents apiece at $31.09, “I don’t think there was anything in there to get people off the sidelines,” said Jennifer Rowland, an analyst at brokerage Edward Jones, arguing the company’s comments fell short of what was needed to shift sentiment around the industry, “We are still kind of in the hope phase that cufflinks online the second half is going to look better,” she said, Halliburton and larger rival Schlumberger NV have been struggling with a tightening of spending by U.S, oil producers in response to shareholder pressure for greater returns following a period of heavy investment in shale..

The Houston-based company, known globally for its investment in post-war Iraq, posted an 11 percent rise in international revenue on the back of gains in Mexico, Argentina and the Middle East, areas where Schlumberger also reported gains last week. However, in contrast to its larger rival, Halliburton said activity in its largest market, North America, was modestly higher. It added that it expects demand for its services to progress modestly for the next couple of quarters. “We believe the worst in the pricing deterioration is now behind us,” Halliburton Chief Executive Officer Jeff Miller said.

Schlumberger last week posted a 3 percent fall in revenue from North America, cufflinks online blaming softer pricing and lower activity for its hydraulic fracking and drilling businesses, Halliburton’s revenue from the region fell 7 percent to $3.3 billion in the three months ended March 31, but came in above the $3.13 billion that five analysts had estimated on average, according to IBES data from Refinitiv, As expected, Miller also forecast further falls - a 6 percent to 10 percent decline in spending by oil producers in North America in 2019 - lower than the 10 percent fall forecast by Schlumberger..



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