Reply #8: Euro-zone troubles may roil stocks [View All]

[ozymandius]

NEW YORK (Reuters) – U.S. stocks could face more volatility this week as growing doubts about whether Europe can solve its deepening debt crisis are likely to take center stage again.

A $1 trillion rescue package unveiled at last week's start gave only temporary relief to investors, who are increasingly worried about the impact of the crisis on the global recovery and the euro.

Wall Street also will be anxious to see the results from retailers this week, and will pay special attention to their forecasts for the rest of the year. Wal-Mart Stores (WMT.N) and Lowe's Co (LOW.N) are among companies expected to report.
Below-par results on Friday from retailers, including Nordstrom (JWN.N) and J.C. Penney Co Inc (JCP.N), cast some doubt on the consumer's health.

With results in from 459 of the S&P 500 companies, first-quarter S&P 500 earnings are expected to be up 56.6 percent from a year ago, according to Thomson Reuters data. That is up from an April 1st estimate for a gain of 36.6 percent.

Among the retailers on the week's agenda are Dow components Home Depot (HD.N) and Wal-Mart, which will report on Tuesday, along with teen retailer Abercrombie & Fitch Co (ANF.N).

http://news.yahoo.com/s/nm/20100516/bs_nm/us_usa_stocks_weekahead