Markets looking to future

This week, the amount of companies reporting earnings will begin to slow. Many companies have already reported their earnings to Wall Street. According to Thomson Financial/First Call, third quarter earnings are likely to show a decline of 21-22 percent when compared to last year. \nInvestors will continue to look for signs that the economy is going to rebound. \nFriday, a weaker-than-expected employment report could move the markets. Investors will also begin to look at government spending and the continued fighting in Afghanistan. \n"What's driving the buying right now is a macroeconomic view that the increased government spending and monetary stimulus due to the attack is going to cause the recession to be shorter than originally anticipated," Mitch Zacks, vice president of Zacks Investment Management, told MSNBC.com. \nLAST WEEK\nThe markets shook off poor earnings reports and gained ground. On Friday, the Dow Jones Industrial Average gained 82.27 to close at 9545.17. The Nasdaq closed down 6.51 points to 1768.96. The S&P 500 ended the day up 4.52 points to close at 1,104.61. The Dow gained 3.7 percent for the week and the S&P advanced 2.9 percent. The tech-heavy Nasdaq was the big gainer for the week, gaining 5.8 percent.\nREPORTING EARNINGS\nA few companies reporting earnings this week include: Chubb, Cigna, Clorox, Delta Airlines, Global Crossing, Kellogg, King Pharma, MetLife, Newmont Mining, Priceline.com, Procter & Gamble, Qwest Communications, Revlon, UAL and Verizon.\nSTOCK NEWS\nFriday, the government announced that Lockheed Martin had won a contract that could be worth as much as $200 billion during the next few decades. Lockheed had been competing for the contract with rival Boeing. Lockheed has announced that the contract could eventually lead to more than 9,000 jobs. Conversely, Boeing announced that it was lowering its 2002 revenue estimates by $1 billion.\nSaturday, News Corp. announced it was withdrawing its offer to purchase GM subsidiary Hughes Electronics. News Corp. withdrew its bid after the board of directors for General Motors failed to make a decision on the deal. \n"We have no option but to withdraw immediately our fully negotiated and financed proposal," News Corp. chairman and chief executive officer Rupert Murdoch said in a statement. "We are disappointed with the board's inaction in the face of an as-yet unfinanced counter proposal."\nFINAL NOTE\nReports of anthrax in the United States have become common for investors. At first, Wall Street reacted to anthrax reports with what appeared to be panic selling. Investors appear to now be dealing with reports in a rational manner. The markets will continue to deal with the threat of attacks.