Despite the shortened trading week, investors continue to be on edge when it comes to the market. Concerns about global growth, corporate earnings and the health of the world’s economy continue to weigh heavily on investors. That’s continued to directly influence the direction of the market and the overall size of the swings. This week was marked by two strong factors.
To begin with, earnings have been mixed. Several firms have reported slower growth, and more importantly mentioned the global economy and the government shutdown as contributing to their less-than-stellar results. Additionally, cautious guidance has become the norm and this has continued over the last few trading sessions.
While the government shutdown has caused “official” government metrics and reporting to be on hold, several third-party data providers have continued to paint a less-than-bullish picture across several metrics. This dour outlook was echoed by several business and government leaders at the latest World Economic Forum in Davos.
All in all, the markets were mixed as the ebb and flow of good and bad talking points have taken hold.
Be sure to check out our previous Wrap here, when the critical earnings season kick-started.
