Stocks sunk lower yesterday as the Dow Jones Industrial Average dropped 140
points to close the last trading session in the United States. Money and
Investment news skewed negatively. The Nasdaq fell 29 points and the S&P 500
dropped 15 points total. Stocks dropped off after the Standard and Poors
downgraded rating of the U.S. economic outlook. Investors hope for a rebound
today. Key earnings reports will post via Yahoo, IBM, Goldman Sachs and Johnson
and Johnson. Goldman Sachs will post data prior to opening bell today and
profits are expected to show a decline. IBMs earnings data will post after the
bell and economists are expecting the tech giant to post a profit. In addition
to these key earnings reports, the Commerce Department will post March housing
starts and building permits. The housing sector has been struggling and there is
little reason to believe that this data will skew towards the positive. On
Wednesday, economic data will relate to the report stemming from the National
Association of Realtors pertaining to existing home sales. Key earnings reports
this day will be presented via Wells Fargo, American Express, AT&T and Apple.
Apples earnings data will post after closing bell and economists are forecasting
positive numbers for the tech company. Thursday will bring the Labor Departments
report on new and continuing jobless claims. These numbers notched higher last
week and so all eyes will be watching to see if this was just a blip or a
directional trend. In addition to this report and other economic indicators, key
earning reports are positioned to post from a handful of companies. McDonalds,
DuPont, Verizon Communication and Southwest Airlines are all in line to post
earnings reports. Friday will be uneventful in the U.S. as the markets in the
United States will be closed for the day. So it is a short week, and although
there is a moderate list of key economic reports set to post, earnings data may
be looked at more closely. Last week overall was a loss as the Dow Jones
Industrial ended in the red for the week and investors hope to bounce back this
week. Money and investment news will have to improve as the week develops.
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