World Week Ahead: US earnings season starts

BUSINESSDESK: Wall Street dropped on disappointment with Friday's non-farm payrolls report and investors are looking to the start of the first-quarter earnings season for fresh clues.

Financial markets were closed on Friday for the Easter holiday when a report showed that the US added 120,000 jobs in March, which was short of expectations for an increase of 203,000.

Just like last week, this week is a short one for Europe as financial markets were closed on Monday for the Easter holiday.

Wall Street, however, was open today.

In early afternoon trading, the Dow Jones Industrial Average fell 0.82%, while the Standard & Poor's 500 dropped 1.10% and the Nasdaq Composite Index declined 0.96%.

After a stellar first quarter, the second quarter has got off to a rough start.

The S&P 500 shed 0.7% in the four days of trading last week, while the Dow and the Nasdaq dropped 1.2% and 0.4%, respectively, in the same period.

By comparison, both the Dow and the S&P 500 posted their best first quarters since 1998 in the first three months of 2012, while the Nasdaq had its best since 1991.

Investors will look to earnings for indications on whether recent, and further, gains are justified.

Alcoa is set to release results after the market closes early tomorrow.

Other companies due to report this week include Google, JPMorgan Chase and Wells Fargo.
 


Got a question about this story? Leave it in Comments & Questions below.

This article is tagged with the following keywords. Find out more about MyNBR Tags

Comments & Questions

Commenter icon key: Subscriber Verified

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7282 -0.0001 -0.01%
AUD 0.9496 0.0030 0.32%
EUR 0.6481 -0.0008 -0.12%
GBP 0.5610 0.0025 0.45%
HKD 5.6459 0.0007 0.01%
JPY 73.9540 0.4370 0.59%

Commods

Commodity Price Change Time
Gold Index 1319.6 -1.410 2016-09-29T00:
Oil Brent 49.8 0.570 2016-09-29T00:
Oil Nymex 47.8 0.780 2016-09-29T00:
Silver Index 19.2 0.070 2016-09-29T00:

Indices

Symbol Open High Last %
NZX 50 7343.4 7361.1 7343.4 0.24%
NASDAQ 5311.3 5317.0 5318.5 -0.93%
DAX 10240.7 10263.3 10405.5 -1.51%
DJI 18322.9 18366.2 18339.2 -1.07%
FTSE 6919.4 6919.4 6919.4 -1.17%
HKSE 23435.3 23484.4 23739.5 -1.86%
NI225 16474.5 16497.5 16693.7 -1.46%
ASX 5471.3 5471.3 5471.3 -0.65%