Apr
7
Written by:
Steve Patterson
4/7/2009 8:06 PM
No Economic Data and Little in Earnings (Literally)
It's a tough week to believe in the new bull market will next to no economic data coming out and little in the way of earnings. I still think the markets can move higher with the help of a couple good reports next week and a few earnings surprises by some of the bigger companies. Goldman Sachs has been holding steady with it's earnings to be released next week with Johnson & Johnson only failing slightly the last two days.
Economic Data
With some unimportant economic data coming out this week, it's hard to excited about the rally. Consumer Credit, Wholesale Inventories, Export Prices, Initial Claims, and Trade Balance. That's one big yawn. Briefing.com rates the importance of the reports this week like a jock's grade card that skipped class all quarter, D-, C+. and D. Not anything to move the markets.
Earnings
And the earnings are just trickling in with only fear of the coming weeks to create any direction. Alcoa started the earnings today with a fairly poor report but that's expected with commodities not performing well during the last quarter. Mosaic after the close fell 7% with the same story as Alcoa. The Shaw Group could be a little exciting on Wednesday and Chevron could beat lowered expectations on Thursday but that's about it until Tuesday. Next Tuesday CSX Corp, Goldman Sachs, Intel, and Johnson & Johnson all announce their earnings. Goldman Sachs has a nack for beating estimates (except last quarter) and has been holding up the last two days of trading which is encouraging. Johnson & Johnson could also provide strength to start the week with a positive tone.
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11 comment(s) so far...
Re: No Economic Data and Little in Earnings (Literally)
It is really hard to say what will happen bull or bear market
By siding toronto on
4/7/2009 8:28 PM
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Re: No Economic Data and Little in Earnings (Literally)
it hard to say what will happen bull or bear nobody knows
By siding toronto on
4/7/2009 8:29 PM
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Re: No Economic Data and Little in Earnings (Literally)
I could see the market going either direction at this point and is looking weak lately. Might be time to get out.
By netflix free 14 day trail on
4/8/2009 9:01 PM
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Re: No Economic Data and Little in Earnings (Literally)
Let us hope for a brighter future!
Thank you for posting!
By Professional Networking on
4/8/2009 10:35 AM
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Re: No Economic Data and Little in Earnings (Literally)
Everything is taking a hit in this recession, my business earnings are also going down.
By Paul on
4/9/2009 7:10 AM
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Re: No Economic Data and Little in Earnings (Literally)
The scary thing about this recession (depression really) is that no one is immune to it. I only hope the right decisions are made so that we can come out of it with something...
By lawyer in Wake Forest, NC on
4/9/2009 9:02 PM
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Re: No Economic Data and Little in Earnings (Literally)
Well, I think its just the same, market is still unpredictable in any common time.
By Learn Forex on
4/10/2009 8:35 AM
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Re: No Economic Data and Little in Earnings (Literally)
I hope that the future is better, and that earnings return again high.
It is a crisis and it will take it's time I guess, I just hope people dont loose everything till the economy recovers
By Variable Annuity on
4/11/2009 2:13 PM
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Re: No Economic Data and Little in Earnings (Literally)
Let's practice a little creativity during this hard times...the media hype on the recent market trend may be considered as a positive retort to negativity. Lets think the other way around...all negative trends are positive in disguise. Isn't it nice hearing this mindset? No fear whatsoever, just mere faith.
By Anne @ BestTermLife on
4/14/2009 7:43 AM
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Re: No Economic Data and Little in Earnings (Literally)
Everything will be fine! It`s in the essence of humanity.
Good luck all!
By Wisp on
4/16/2009 9:25 AM
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Re: No Economic Data and Little in Earnings (Literally)
Thanks for the brief update on the economy.I believe the economy is now moving up gradually!
By Singapore Property on
5/4/2009 1:30 AM
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