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US investors have been spooked by a collapse in commodities and may not be sure whether that’s a signal to buy or sell. Oil prices have fallen in half in recent months, trading below USD 50 a barrel CLc1 at around six-year lows. That’s cut gasoline prices for Americans and helped US consumer sentiment hit an 11-year high in January, data showed on Friday.
Key earnings reports due next week include Dow Jones components Morgan Stanley (MS.N), IBM (IBM.N), American Express (AXP.N) and Johnson & Johnson (JNJ.N). Wall Street still expects overall earnings of S&P 500 companies to rise 3.5 percent for the fourth quarter, but that’s off from the 11 percent consensus that prevailed on October 1.
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