US equities move lower

MARKET OUTLOOK

- US: US markets declined week on week after a mixed job report Friday marked by a weaker than expected job creation reinforcing a soft landing scenario but stronger than expected hourly earnings increased inflation concern. On the corporate side, AMD and 3M issued warnings. The earnings season starts slowly this week with Alcoa Monday afternoon only to accelerate the following week. Stocks from the commercial, technology hardware and semiconductors fell most. Caution should continue to prevail in the US.

- EUROPE: European were mixed last week with the Dax & Cac 40 posting moderate declines and the FTSE 100 and Ibex advancing. Stocks from the insurance, technology and media sectors were under pressure while stocks from the oil & gas, telecom and health care gained ground week on week. On the economic front, the ECB left its benchmark rate unchanged but prepared the market for a rate hike early next month. With a weak close on Wall Street on Friday the start of the week could be in the red.


COMPANY PREVIEW

Alcoa (USD 33.55 ; 5.17% ; AA ; AA.N)

Today after US markets close, Alcoa reports its 2Q results. EPS is seen surging to $0.86 from the $0.46 the group reported last year. Revenue for the quarter is expected to jump 18.5% to $8.01bln YoY.

Gannett (USD 56.49 ; 1.06% ; GCI ; GCI.N)

On Wednesday Gannett reports its 2Q results. The group's CFO warned that the company could miss analysts estimates for profit in the 2Q because sales in June could be weaker than in May and therefore EPS 'could be a penny or two off'. Gannett had been expected to report an EPS of $1.31.

Marriott International (A) (USD 37.37 ; -0.93% ; MAR ; MAR.N)

On Thursday Marriott International reports its 2Q earnings. EPS is expected to rise to $0.40 from $0.37 it reported same time last year on revenue up 5% to $2.80bln.

Tribune Co (USD 32.5 ; 0.31% ; TRB ; TRB.N)

On the same day Tribune reports its 2Q results. The company failed to meet its target of buying back 53m shares, only managing 45m amid continued fighting between management and the group's 2nd largest shareholder, the Chandler family.

General Electric (USD 33.3 ; 0.09% ; GE ; GE.N)

On Friday General Electric publishes its 2Q results. The market will be looking for an EPS of $0.47, up from the $0.41 reported same time last year on revenue of $39.61bln, up from the $37.4bln reported last quarter but slightly down year on year.