Unofficial earnings season begins today as Dow Component Alcoa is set to report its fourth-quarter results after the close. 

Overseas markets are starting the week on the defensive: Nikkei 225 -0.45%, Hang Seng -2.83%, Shanghai Composite -0.24%, DAX -0.29%, and the FTSE 100 -0.45%.

Futures indications around 8 A.M.: Dow -35, S&P -3, Naz Flt, Oil -$1.92, and Gold -$7.60.

The year is only 5 trading days old however, some interesting Morningstar Sector movements have occurred in the years first week.  For comparison purposes the Dow is +0.74%, S&P +0.72%, Nasdaq 100 +3.37%, Nasdaq Composite +2.54%, S&P Mid-Caps +1.32%, and Small Caps -0.83%. 

Compare those changes with the Morningstar Sector Groupings of which there are 31.  Five are down all less than 1% and 26 are higher with Metals and Mining so far leading the pack.

 Have A Great Weekend  See you Monday before the open.

The all important employment situation report was just released: Nonfarm payrolls -524K vs. a consensus of: -500K,  Unemployment rate 7.2% vs. a consensus of: 7.0%, Average workweek 33.3 vs. a consensus of: 33.5 hours, and finally Average hourly earnings +0.3% vs. a consensus of: +0.2%.

Overseas markets are showing caution this morning ahead of the employment situation: Nikkei 225 -0.45%, Hang Seng -0.27%, Shanghai Composite +1.42%, DAX -0.13%, and the FTSE 100 -0.58%.

Shortly after the jobs report the futures were: Dow +49 , S&P +7, Naz +2, Oil -$0.67, and Gold +$2.30.

Have A Great Day!