Stocks fell again on Wednesday, and oil prices briefly crossed the $100-a-barrel mark after violence escalated in Libya. Oil traders are spooked about the possible spread of turmoil. Tech bellwether HP's disappointing outlook also hurt.
Many of America's best-known retailers, including Walmart, Home Depot and JCPenney, will be stepping into the earnings spotlight this week. Their reports come on the heels of disappointing January retail sales numbers from the Commerce Department.
Last week, Macy's and JCPenney kicked off the retail earnings season by posting better-than-expected earnings. But the news may not continue to be so good.
After a stronger-than-expected spring, summer doldrums have hit harder than usual. Merchants' second-quarter reports and a slow economic recovery means retailers have to work hard to boost sales for the year.
Wall Street analysts still predict a record $97 in profits for the S&P 500 next year despite a lackluster economy. Expectations of massive corporate profits have propped up the stock market. That could change quickly. (With video)
