The Market On Monday
Exxon Mobil fourth-quarter earnings climb 53% to $9.3 billion.Good morning. It is sunny and cold with a solid coating of old snow here in Upstate NY. I had the pleasure of going swimming over the weekend. My swimming is not strong yet. I hope to get up to a steady 1/2 mile or so eventually. Water is sensuous.
At 8:10 a.m. futures are slightly up, the dollar is mixed, and oil is slightly down.
Investors are talking Egyptian unrest. The most salient quote I found was the guy who said that as economic and social conditions become more and more intolerable in developing countries, we will see more civil unrest. I'm not sure if Egypt is considered a developing country as it is the world's 27th largest economy. There are 195 countries in the world, so Egypt would be in the top 1/7th of all countries in terms of GDP.
Wall Street will get through Egyptian unrest but they might not get through Friday's government figures on unemployment in January, to be released on Friday. That will be the week's most salient economic news from their perspective.
CNN: Stocks set for flat open amid Egypt unrest
But Egypt won't be the last country to fuel worries about political and economic situations abroad...
"I think we'll see a lot more civil unrest as economic situations become intolerable to the general populations..."
The Commerce Department is expected to report that personal income rose 0.5% in December...
The most closely-watched report of the week comes Friday, when the government releases its January jobs data.
Oil for March delivery slipped 9 cents to $89.25 a barrel.