The unofficial start of earnings season kicks off today as big banks JPMorgan (JPM), Wells Fargo (WFC) and PNC Financial (PNC) report their quarterly numbers. Earnings for S&P 500 companies are expected to have increased by 11.8% in Q4, according to Thomson Reuters. But many companies are forecast to take one-time charges due to deferred taxes and may be reluctant to give the broad positive guidance expected by the trading community.
Economy
Following months of political uncertainty, the euro jumped to a three-year peak against the dollar overnight after German party leaders reached a breakthrough