It's Earnings Season, Again!

Investors will be eyeing second quarter earnings reports over the next few weeks to get a feel for the health of corporate profits, which will set the tone for the direction of the stock market. Last week's employment numbers were better than expected, which shows the economy is still humming along. The unemployment rate held steady at 4.5%, nonfarm payrolls rose by 132,000 in June, while the April and May numbers were revised upward by a combined 75,000 jobs.

During the holiday shortened week, the the market stayed in a tight trading range, as crude oil moved above $76 a barrel. Even with oil prices moving upward, gasoline prices have been holding steady, due to the fact that inventories have been higher than expected. Treasury yields also inched up to 5.19%, but the increase didn't seem to spook the market. For the market to resume its upward trend, earnings are going to have to meet or exceed forcasts, and the guidance by companies will be scrutinized extensively.

John Kaighn is a Registered Investment Advisor with Jersey Benefits Advisors and writes articles on various business and investment information, ideas and opportunities. For more information about this and other topics you can visit Internet Home Business Ideas and Opportunities and Jersey Benefits Advisors