Rocky trading week ahead

The stock market spotlight will turn to corporate earnings this week as major U.S. companies line up to issue their latest quarterly results and future outlook amid the shaky economy.

TORONTO — The stock market spotlight will turn to corporate earnings this week as major U.S. companies line up to issue their latest quarterly results and future outlook amid the shaky economy.

The specifics of the reports could send markets spiralling downwards if they don’t meet expectations, some analysts suggest.

“The market has factored in good earnings and the market has actually discounted good guidance as well,” said Jim Herrick, director of equity trading at Baird&Co. “So if we don’t see that, the market will retrace.”

On the earnings schedule are major U.S. financial institutions like JPMorgan Chase&Co., Citigroup Inc. and Bank of America Corp. The banking sector has played a major role in sending the market higher.

It could be a rocky trading week if company results and outlook don’t meet investors expectations.

“There certainly seems to be hope that revenue will help the picture,” said John Johnston, chief strategist at the Harbour Group at RBC Dominion Securities.

“The bottom line is going to be very good in terms of cost savings.”

On the Toronto Stock Exchange, investors will be trading in a shortened week after the Thanksgiving holiday on Monday.

Just Posted

Lacombe council seeking answers about policing cost overruns

Council surprised to find out about $240,000 policing budget shortfall

Red Deer fundraiser to help educate Somali orphans on May 11

The Mother’s Day event is for all ages

Lacombe to join municipal coalition spreading the word about importance of resource industry

Resources Communities of Canada Coalition to represent municipalities connected to resource industry

These blues will get you dancing: The Overdue Blues Band performs in Red Deer Saturday

Calgary’s Brother Ray Lemelin Band is also on Elks Lodge bill

Gardening: Time and effort key to buying garden plants

Greenhouses, garden centers and box stores are set to start selling bedding… Continue reading

Montreal native Nicholas Latifi off to solid start on Formula 2 race circuit

Practice makes perfect for Canadian Nicholas Latifi. The 23-year-old Montreal auto racer… Continue reading

Bruins victory over Leafs ensures an American team will hoist the Stanley Cup

TORONTO — Many NHL players were either not yet born or too… Continue reading

Swole, buzzy, among new words in Merriam-Webster dictionary

BOSTON — Get swole, prepare a bug-out bag, grab a go-cup and… Continue reading

Garner graces cover of People’s annual ‘Beautiful Issue’

NEW YORK — Jennifer Garner graces the front of this year’s “Beautiful… Continue reading

Updated: Joshua Arthur Sanford has been found, says RCMP

37-year-old Ponoka man last seen on Tuesday morning

Inspired by a galaxy far, far away, these ‘Star Wars’ mementos could be yours forever

CHICAGO —The stuff of “Star Wars” —and there is unfortunately no better… Continue reading

Shoppers Drug Mart launches second online medical pot portal in Alberta

TORONTO — Medical cannabis users in Alberta can now get their therapeutic… Continue reading

Most Read