The market will get its first big Tech earnings report for the New Year when Intel (INTC, $21.27, down $0.03) steps up to the plate after the closing bell today. The company is expected to earn $0.54 a share on revenue of $11.4 billion.
As far as economic news, new jobless claims came in at 445,000, which were above estimates, and higher than the previous week’s print of 410,000. Elsewhere, the producer price index for December was up 1.1%. If you back out food and energy, PPI was up 0.2%.
The market is trading slightly lower as we head to the second half of trading as the Dow is down 24 points to 11,731 while the S&P 500 is off a point to 1,285. The Nasdaq is higher by 2 points to 2,739.
Before the bell on Friday, JPMorgan Chase (JPM, $44.75, up $0.04) will announce earnings and could provide clues on if the Financial sector is ready to join the rally. The sector has been up in recent weeks but the proof will be in the pudding.
We have a number of trade recommendations that are doing well again today as a few of the stocks we are following have hit 52-week highs. We will back in the morning with a fresh update.