First-quarter earnings season kicks off next week as earnings seasons always do with a report from aluminum products maker Alcoa.
Company earnings, as quoted by Foxbusiness.com, have been generally solid despite recessionary conditions following the financial crisis in 2008. But expansion has been put on hold for many companies until the economic recovery gains traction.
Without expansion, the U.S. labor markets will continue to struggle, as evidenced by Friday’s disappointing jobs report in which it was revealed the economy added just 120,000 jobs in March, well short of expectations.
The lousy jobs report has people wondering whether the Federal Reserve is pondering new policy measures, namely more quantitative easing. Investors will be looking for hints from Fed chief Ben Bernanke and other Fed board members in speeches and various appearances.
While unemployment and a sluggish economy had held a higher priority in recent months than inflation, the Federal Reserve is still keeping an eye on that important data point. Three inflation reports are due next week: the import-price report is out Wednesday; the producer price index is due Thursday; and the consumer price index is out Friday.
How about Indonesia stock market today? Bisnis Indonesia provides recommendations:
Today, Jakarta Composite Index is estimated to move sideways within the range of 4,123-4,215. Several stocks such as PGAS, MBSS, PTBA, and AKRA may potentially rebound.
The JCI today may move mixed with uptrend possibility. The support-resistance level is within 4,137-4,189. Several stocks to pick: UNTR, BMRI, ASRI, BRAU, and MLTA.
Today, the JCI may move within the range of 4,131-4,195. Several stocks to watch: PGAS, AKRA, and EXCL.
Technically, the JCI today may move in limited rise within the range of 4,130-4,190. Several stocks for day trading are SGRO, BRAU, CTRS, and BJBR.
Disclosure: No position at the stock mentioned above.