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Wall Street falls after five-year high, earnings in focus

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07 Jan 2013 10:55 #118206 by chairman
(Reuters) - Stocks fell on Monday as traders cashed in recent gains that lifted the S&P 500 to a five-year high on Friday and awaited Tuesday's start of the fourth-quarter earnings season.

Last week was the best for U.S. stocks in more than a year as a budget deal and economic data boosted investor confidence.

Investors will likely turn their attention to the fourth-quarter earnings season that kicks off this week. Earnings are expected to be only slightly better than the third-quarter's lackluster results and analysts' current estimates are down sharply from what they were in October.
Always tell someone how you feel because opportunities are lost in the blink of an eye but regret can last a lifetime.
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