Futures are pointing towards a HUGE open this morning after strong earnings results from Intel (INTC, $20.49) and JPMorgan Chase (JPM, $45.66).
JPMorgan Chase easily beat Wall Street’s expectations, after reporting a profit of $3.6 billion for the quarter. Although the company said loan losses are still high and are likely to remain elevated for some time, the results were jaw-dropping.
JPMorgan said it earned 82 cents a share, up from 9 cents a share in the same quarter a year ago, but they beat estimates by 30 cents, folks! Wall Street was expecting the company to earn 52 cents a share. Wow! Shares are up $2 to $47.66 in early trading.
Of course, Intel also beat Wall Street’s estimates and we have been on this story like grass on dirt. We sent out a News Flash last night alerting our subscribers of the after-hours jump and it looks as though those gains are going to hold. In pre-market trading, shares are up 93 cents, to $21.42.
Ahead of the bell, Dow futures are up 109, or 1.1%, to 9,918. The S&P 500 futures are higher by 15, or 1.5%, to 1,084, while the Nasdaq 100 futures are surging by 25, or 1.4%, to 1,751. All aboard!
Gold continues to set record highs. This morning, the yellow metal hit a high of $1,072 an ounce. Oil is above $75 a barrel for the first time in a year.
Current subscribers can check the Members Area for more detailed instructions on how to play Intel from here on out. Many of you should have made well over 100% on the trades and some of you might reach returns of up to 200%! As always, your comments are always welcomed so send us a line if you cashed out on this huge monster!