Earnings reports that could move the stock market include Intel on Tuesday; General Motors, I.B.M. and Microsoft on Thursday; and General Electric on Friday.
The latest earnings season comes as new evidence has emerged about the weakness of the American economy. On Friday, the Labor Department reported that employers shed 101,000 jobs outside the farming sector as payrolls fell for a second straight month.
David Resler, chief economist at Nomura Securities International, told The New York Times that the statistics were "profoundly disappointing."
"They tell us we are still waiting for the economy to kick in enough for companies to start hiring," he said.
Still, economists are hopeful that a report on December retail sales, due on Tuesday, will show that consumer spending retains some strength. "Despite a lack of jobs, the retail sales report may show some reassurance that consumers are continuing to hang on," said Jade Zelnick, chief economist at Greenwich Capital Markets. "We expect retail sales to move up 0.9 percent, and retail sales ex-autos to go down 0.1 percent."
NYT |
