The week is starting off normally, for 2014 that is. The market is moving slowly between green and red and the air is filled with vibes of uncertainty. It is all about the numbers now. The Fed is sidelined, Congress is out to lunch, and the world is not making much noise. All the market has left to think about this week is, well, the market.
Bonds are a hot topic today, the December retail sales reports tomorrow will play, mortgage applications on Wednesday will stir it up a bit, the NY Empire State Manufacturing Index the same day will cause some noise, the Philadelphia Fed Manufacturing Survey on Thursday will have a say, jobless claims on Thursday as well will spice it up, and, of course earnings all this week and next, and next, and next …
- Earnings are expected from 29 companies in the S&P 500 this week, including banks such as Morgan Stanley, Citigroup, Goldman Sachs, and JPMorgan Chase. Results are also due from companies including First Horizon National Corp, M&T Bank Corp, People’s United Financial, and Charles Schwab Corp.
The financials are bringing it this week. The earnings there are projected to be decent, but, hey what do the oracles know? Ironically, I agree with the oracles on this one. The financial sector has been getting healthier and healthier, even with the back story of lawsuits, massive settlements, and criminal probes. The earnings will likely show another step forward.
The DIJA is now down, again, after being in the green for a bit. Expect the ride to be up and down this week, but not overly thrilling. Don’t forget, though, the down times are your entry points.
Get your money in because, despite the outlier jobs report last week, the economy is headed forward and the market is headed higher.
Trade in the day; Invest in your life …
