Updated from 1/29/2011 with latest news from Egypt.
NEW YORK (TheStreet) -- Should investors be bracing themselves for a further correction in the coming week?
Between the escalating crisis in Egypt, the ongoing earnings season and a crucial nonfarm payrolls report, there will certainly be plenty of market-moving headlines to influence equities trading.
After rising to key psychological levels on an intra-day basis during the week on the back of strong earnings, stocks plunged on Friday as investors worried that tensions in Egypt would spread to other countries in the Middle East, including the major oil-producing nation of Saudi Arabia. Anti-government protests have already spread to Yemen, Algeria and Jordan.On Saturday, Egyptian President Hosni Mubarak appointed Omar Suleiman, the head of the country's intelligence services, as vice president, according to media reports. As riots and protests continued into Sunday, Egypt's information minister ordered the suspension of operations of Al Jazeera, revoking its licenses and withdrawing accreditation for its staff.
|A protester is seen in the streets amid civil unrest in Suez, Egypt, Friday, Jan. 28, 2011. Tens of thousands of anti-government demonstrators poured into the nation's streets.|
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