Trading in the U.S. index futures suggests stocks may start the week on a nervous note as fourth-quarter reporting season begins in earnest.
What To Watch Today
Tech, railroad operators, payment processors, defense contractors and airlines are among the companies lined up to release their quarterly earnings scorecard this week.
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With the Fed entering a blackout period ahead of the Jan. 31-Feb. 1 monetary policy meeting, the market focus of the week is likely to shift to earnings and economic data on the manufacturing and services sectors, first read of fourth-quarter GDP and the Fed’s favorite inflation gauge from the December personal income and spending report.
Cues From Last Week’s Trading
U.S. stocks closed the abbreviated week that ended on Jan. 20 on a mixed note, as traders digested mixed earnings and a weak set of economic data. The Nasdaq Composite Index settled at its highest levels since mid-December, thanks to a rally in Tesla Inc. (NASDAQ: TSLA) and Netflix Inc. (NASDAQ: NFLX).
The S&P 500 Index and the Dow Industrial Average fell in the first three sessions of the week before rebounding strongly on the final trading day.
The trading week started with a disappointing earnings report from Goldman Sachs Group Inc. (NYSE: GS). Two regional manufacturing surveys showed continued contraction, existing home sales fell for the 11th …