On the earnings front, it would seem that companies have fared a little worse than the market had hoped. Annual growth has come in around 14.5 percent this season and analysts were hoping to see 16.6 percent.
More Quotes from Angus Campbell:
The only thing that can stop further declines in the market today is a tame ISM figure and lower oil prices,Angus Campbell
The main focus will be on what they have to say about how 'higher energy and other costs have the potential to add to inflation pressures'.
Angus Campbell
Profit taking cannot be ruled out, especially if oil prices head north.
Angus Campbell
We'll be focusing very closely on earnings today. There is concern that companies are not pulling out the earnings expected, so the real test for shares will come from company releases this week.
Angus Campbell
The market did not attract the sort of bargain hunting that many expected yesterday which just shows how cautious investors are following Friday's sell off.
Angus Campbell
Anything higher here could confirm investors' fears that the Fed's interest rate tightening is far from over and is set to continue well into 2006.
Angus Campbell
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