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Morning Market Movers: Why Are Stocks Being Cautious?

Jan. 8, 2013 10:15am Becket Adams

Here’s what’s shaking:

Stocks:

Getty Images

Stocks were being traded cautiously across global markets Tuesday as investors prepared for the start of the U.S. corporate earnings season and digested a mixed batch of European economic indicators.

The markets will get a feel for the health of corporate America as earnings reports start coming in. Aluminum producer Alcoa Inc. will be the first major company to release results for the fourth quarter of 2012 on Tuesday after U.S. markets close.

By midafternoon in Europe, Germany’s DAX was 0.1 percent lower at 7,723.00 while Britain’s FTSE 100 was flat at 6,067.30. France’s CAC-40 rose 0.4 percent to 3,720.34. The euro edged down 0.2 percent to $1.3086.

Wall Street opened slightly lower – both the Dow Jones industrial average and the broader S&P 500 were down 0.1 percent, to 13,361.29 and 1,459.76.

European investors were torn between two sets of economic indicators.

One showed that unemployment in the 17-country eurozone hit 11.8 percent in December, a record high and up from 11.7 percent the previous month. The figure highlights the huge economic challenge facing Europe – although financial market turmoil has subsided, the labor market continues to weaken.

But a separate report was more upbeat, showing business and consumer sentiment in the eurozone rose in December by more than analysts were expecting and that retail sales edged up in November. That suggests that the improvement in financial markets during those months helped economic activity stabilize.

Analysts warned, however, not to expect any imminent turnaround in the economy.

Oil:

Getty Images

The price of oil edged closer to $94 a barrel Tuesday, reflecting optimism on European stock markets despite conflicting economic data.

By early afternoon in Europe, benchmark oil for February delivery was up 52 cents to $93.71 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 10 cents to finish at $93.19 a barrel on Monday.

Investors will be monitoring fresh information on U.S. stockpiles of crude and refined products.

Data for the week ending Jan. 4 is expected to show builds of 1.5 million barrels in crude oil stocks and 2.6 million barrels in gasoline stocks, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos.

Markets:

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Featured image courtesy Getty Images.

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Comments (8)

Snowleopard {gallery of cat folks}
Posted on January 8, 2013 at 11:12am
Sounds like this is the prelude to the next big shock wave and quake that will hit around the world. How much money is Soros putting into the market to sell short on many markets and goods?

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thibx
Posted on January 8, 2013 at 11:01am
when oboma prints a bunch of money watch it go up. the only time in 4 years it has gone up is when feds print money. this market not built on sound foundation.

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woodyee
Posted on January 8, 2013 at 10:32am
Morning Market Movers: Why Are Stocks Being Cautious?

Maybe because the truth is finally starting to hit them in the face, that a FEW HUGE players are rigging it, like the FED and it’s international buddies, pushing it up and steady to favor the potential dictator in our Country?

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Cavallo
Posted on January 8, 2013 at 10:26am
What delusional fantasy do you have to entertain to be optimistic about the economy? Massive increase in regulations (increased costs) increased corporate taxes (increased cost) increased payroll tax (increased cost decreased demand .. as workers then have less money to spend on your products). The powers that be are calling for 1 trillion more money to be pulled from the economy to fund their schemes. History has shown that few if any ever at all tax increases have ever been spent to lower the debt, so the excuse of more taxes is quite dubious at best and a bold faced hilariously obvious lie at worst.

Certain sectors friendly to the administration might fair well (for a short period). Alternative energy will be falsely supported for awhile, and like Solyndra there is false and dishonest money to be made in such things. Other short term administration friendly sectors might do well and make sycophants and other friendly fascists wealthy in this system, but on the whole the economy is doomed.

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- Top_Contributor
  Posted on January 8, 2013 at 10:31am
  LOL, “solyndra,” you propagandist, you. Why not talk about the other 18 or so alternative energy companies succeeding with federal seed grants? Oh yeah, I know why.
  
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- Cavallo
  Posted on January 8, 2013 at 10:47am
  @Top, Like A123, you fascist sycophant? How about Solar Trust of America? Bright Source? LSP? Energy Conversion Devices Inc? Abound Solar? Beacon Power? UniSolar? Azure Dynamics? Evergreen Solar? Ener1 and a myriad of other moral and financially bankrupt idiocy? The propagandist is you, which tries convince the rest of us that slavery, bondage and oppression are efficient and wonderful means to happiness and prosperity. Take your autocratic Marxist garbage and choke on it.
  
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Top_Contributor
Posted on January 8, 2013 at 10:20am
Market’s doing very well. US auto companies all in the black, and healthy. Housing and construction gaining. Economy continues to improve.

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- hauschild
  Posted on January 8, 2013 at 11:13am
  See no evil; hear no evil; speak no evil.
  
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