Stock Market Today
Now that the market has sold off, earnings are going to be under more scrutiny. Emerging market health and poor manufacturing data in the US and China will still be in the back of investor’s minds.
Stock Market Superstitions
Since 1971, the S&P has declined 72% of the time when January returns were negative. If you believe in stock market superstitions, this is not a good indicator for the rest of you year.
Only Positive Economic Data
The one good sign for the US economy is that the Thomson Reuters Small Business Lending Index jumped in December, signaling stronger growth, increased hiring, and greater production ahead.
For the rest of the week, all eyes will be on the employment situation which comes out at the end of the week. Lookout tomorrow for the ADP employment report, which may be prove to be a good indicator for the employment situation.