Disappointing Earnings Leave January in the Red (Bloomberg)
On today’s last trading session of January 2014, lower-than-expected earnings from the likes of Amazon and Mattel and emerging market turmoil led the S&P 500 to its third straight red week. This weak week streak is the longest since May 2012, and this month was the worst January since 2010. “It seems investors can expect increased volatility and more modest returns as the year unfolds,” Terry Sandven, chief equity strategist at U.S. Bank Wealth Management, said. “We need earnings to drive the market to meaningfully higher levels and to do that you need an improving economy. We’ll get a better read on that over the next week.”
