Suzie
07-12-2004, 09:12 AM
Market braces for earnings onslaught
Banks and chip equipment makers are in focus today as more than 250 companies prepare to report profits this week. Novellus and SunTrust beat the Street.
A wave of earnings reports crashes on the market this week. And while corporate profits will dominate the headlines, the economic calendar is fairly busy, with some important inflation data on the way.
Stocks started slightly lower, with individual stock and sector moves more likely than an overall market trends. Investors hoping that strong profits will catapult stocks higher will be disappointed though, Tom McManus, chief investment strategist at Banc of America Securities, told CNBC’s “Squawk Box.”MORE HERE (http://moneycentral.msn.com/content/CNBCTV/Articles/Dispatches/P88918.asp)
Banks and chip equipment makers are in focus today as more than 250 companies prepare to report profits this week. Novellus and SunTrust beat the Street.
A wave of earnings reports crashes on the market this week. And while corporate profits will dominate the headlines, the economic calendar is fairly busy, with some important inflation data on the way.
Stocks started slightly lower, with individual stock and sector moves more likely than an overall market trends. Investors hoping that strong profits will catapult stocks higher will be disappointed though, Tom McManus, chief investment strategist at Banc of America Securities, told CNBC’s “Squawk Box.”MORE HERE (http://moneycentral.msn.com/content/CNBCTV/Articles/Dispatches/P88918.asp)