Stocks ended up Monday, but had another day of swinging between red and green as investors reassess their expectations for the year ahead.
First and foremost, investors are being forced to reconsider their bets on Federal Reserve interest rate cuts after Friday's stronger-than-expected jobs report and Monday's comments by Fed Vice Chairman Donald Kohn: "The economy appears to be weathering the downturn in housing with limited collateral effects," Kohn said in a midday speech in Atlanta. While "inflation appears to be easing," a decrease in inflation was "by no means assured," he added.
Second, as Alcoa(AA Quote) kicks off fourth-quarter earnings season Tuesday, investors are bracing for the possible end of the S&P 500's long-running streak of double-digit earnings growth. A spate of 2007 earnings guidance is also on tap. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,309.92 | 1,091.49 | 2,138.44 | 32.31 |
Oil *
77.12
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DOWN
154.48
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DOWN
19.14
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DOWN
37.61
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DOWN
0.48
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10 Yr
3.23%
SPDR Gold
115.06
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-1.48%
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-1.72%
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-1.73%
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-1.46%
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