The Hunt for the Next 10 Bagger

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Investors likely to focus on jobs data
SAN FRANCISCO (MarketWatch) — Investors will pick through several economic reports this week, but attention is likely to focus on jobs numbers due on Friday.

Stocks finished lower last week with a big selloff on Thursday that left many investors scrambling. On the week, the Dow Jones Industrial Average DJIA, +0.99% declined 1%, the S&P 500 Index SPX, +0.86% fell 1.4%, and the Nasdaq Composite Index COMP, +1.02% was down 1.5%.

Relatively quiet earnings until mid October

This week will be relatively quiet on the earnings front with a few companies reporting such as Cintas Corp. CTAS, +0.42% on Monday, Walgreen Co. WAG, -0.51% on Tuesday, and McCormick & Co. MKC, +0.41% and Constellation Brands Inc. STZ, -0.30% on Thursday.

Earnings won’t ramp up until mid-October, when the major banks report, but concern still remains that a rise in the dollar will undercut results from companies that have a significant international presence.

A stronger dollar is a symptom that international economic growth is slowing down, said Barclays strategist Jonathan Glionna in a recent note.

Glionna said the tech and industrial sectors are heavily exposed to international sales and that the energy and materials sectors are doubly exposed because commodity prices are linked to the dollar.

It remains to be seen whether a stronger dollar will cut into earnings this season. Nike Inc. NKE, +12.23% which reported Thursday, topped Wall Street estimates even though it has a large exposure to international sales. http://www.marketwatch.com/story/investors-likely-to-focus-on-jobs-data-2014-09-28