Bleak earnings season shines light on outlooks

Date: Friday, July 3, 2009

Bleak earnings season shines light on outlooks

U.S. stock analysts generally agree the upcoming second-quarter
earnings season will be bleak. But they're at odds over whether dreary
outlooks will lead to
upsets to the upside or whether the market has set itself up for a fall.

UTILITIES DRAG EUROPE LOWER; BRITISH AIR CLIMBS

European shares edged lower on Friday with U.S. equity markets closed
for a holiday, with utilities and metals producers dragging lower.

REED ELSEVIER STARS IN QUIET LONDON TRADE

Reed Elsevier on Friday stood out in a drab London market on Friday after
Credit Suisse upgraded the European media sector and said the
Anglo-Dutch company was one of its top picks.

ASIA SLIPS ON U.S. JOBS DATA, BUT OFF SESSION LOWS

Most Asian markets close lower Friday after paring early losses.

DOLLAR EDGES HIGHER IN THIN TRADE AHEAD OF HOLIDAY

Dollar edges higher against its major counterparts Friday.