Salient to Investors:
Brad Sorensen at Charles Schwab said the World Bank cuts in growth forecasts are reminders that there’s still work to be done. Sorensen likes earnings so far and the sizable money on the sidelines could boost the market higher.
The World Bank cut its global growth forecast for 2013 on austerity measures, high unemployment and low business confidence.
Almost 75 percent of the 38 S&P 500 companies so far reporting have beat analysts forecasts. Analysts estimate Q4 earnings grew 2.5 percent, the second-slowest quarterly growth since 2009.
Richard Moroney at Dow Theory Forecasts said the Dow is better positioned to set a record now that the Dow transports has done so.
Read the full article at http://www.bloomberg.com/news/2013-01-16/u-s-stock-futures-fall-before-jpmorgan-goldman-earnings.html.