Earnings, ECB highlight holiday-shortened week

A holiday-shortened trading week will see a heavy surge of earnings reports and a widely watched meeting of the European Central Bank.

U.S. equity markets will be closed Monday for Martin Luther King Day.

When trading resumes Tuesday, attention will likely be focused on latest earnings reports from big players in the financial, pharmaceutical and tech sectors.

Morgan Stanley MS, +0.90% is expected to report earnings of 56 cents a share, Tuesday morning, according to a survey of analysts by FactSet. Johnson & Johnson JNJ, +1.51% is forecast to make $1.25 a share when it reports before the bell on Tuesday.

On Tuesday afternoon, IBM IBM, +1.66% and Netflix NFLX, +4.19% will offer their latest results. IBM is seen reporting earnings of $5.44 a share, while Netflix is expected to post results of 45 cents a share for the latest period, according to analysts surveyed by FactSet.

Other notable earnings due in the week ahead include Dow Jones Industrial Average components American Express AXP, +0.19% on Wednesday afternoon, Travelers TRV, +2.24% on Thursday morning and General Electric GE, +0.04% and McDonalds MCD, +0.12% on Friday morning.

In addition to earnings, investors are likely to focus on the latest action from the European Central Bank. The bank’s governing council will meet Thursday in Frankfurt with a news conference to follow with ECB President Mario Draghi.

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