The Markets Look Toward Earnings Season
Last week, the Dow Jones Industrial Average managed to shake off the weak employment report, and it now looks ahead to the upcoming earnings season.
The Dow Jones Industrial Average (NYSEARCA:DIA) fell 0.2 percent for the week, slipping on Friday after the morning’s weak employment report. The SP 500 (NYSEARCA:SPY) closed the week 0.6 percent higher, and the Nasdaq (NYSEARCA:QQQ) climbed 1 percent week over week.
Friday’s big news was the shocking miss of the monthly Non Farms Payroll report that indicated the economy added just 74,000 jobs in December compared to last month’s 214,000 and expectations north of 190,000.
On My Stock Market Radar
While the Dow and the other major indexes managed to mostly shake off the weak jobs reports, attention now turns towards the upcoming earnings season. Alcoa (NYSE:AA) traditionally kicks off earnings season and the company’s shares were pummeled with a 5.4 percent decline on Friday when the company reported a first quarter loss. Sears also got whacked, down 13.8 percent, after it reported falling same store year over year sales.
Q4 earnings season gets underway in earnest this week and significant reports include: