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Earnings, Earnings and Some Economic Numbers

January 12, 2010 – 9:07 am
Welcome to the second week of the decade and be prepared for an interesting one. The market today is trading in a choppy fashion as investors wait for earnings season to kick off after the bell with Alcoa’s fourth quarter report. The rest of the week will also begin revealing earnings from other large companies such as KB Homes and Charles Schwab tomorrow, Intel on Thursday and JP Morgan on Friday among others.

On Wednesday the Fed’s Beige-book is released and will give insight into how well the economic recovery is moving along. Retail sales for the holiday season will follow on Thursday which will give some insight into the health of the consumer and thus further insight into our economic prospects going forward. Friday will welcome the CPI numbers that are so important to understanding inflation pressures bubbling up in the economy and will translate into more well defined expectations about Fed policy.

This week will be a defining week for the rest of the quarter. The market should begin to get a sense of how well our industries are recovering with the Alcoa numbers as well as if the nascent recovery in the housing market will continue with the KB Homes’ earnings release. However, the most important figure might be the JP Morgan figures on Friday. Earnings are everything.

Good Trading
Justin Klein

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