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Data Overload

April 12, 2010 – 10:21 am

The official earnings season kicks off after hours tonight with Alcoa the first Dow Jones Industrial 30 company to report. It will probably show a first quarter profit which is a big change from its recent losses.

As earnings season starts to get in gear this week we are going to get a hint on what corporations are actually seeing in both current sales and projected sales. The earnings are going to be very good but stock prices reflect the future not the present.

Also, out this week will be March inflation numbers, retail sales, industrial production and housing starts. There will be a lot of data to absorb and the market will be watching carefully for further improvements in the economy. So far no one believes in the economic recovery. Frankly, I think that is wrong. We are recovering just not as robustly as we would like.

Another important factor for stock prices is merger and acquisitions activity. That has been increasing and it should bolster stock prices. However, it will be earnings over the next few weeks that will tell the story and especially what the CEOs say about the future.

Good Trading
Steve Peasley

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