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Market Snapshot: Earnings hold the key to the stock market’s fate

With corporate earnings shifting into high gear, how the stock market moves next week could determine whether key indexes correct lower or recharge to break out on the upside.

“Even though stocks have bounced back [Friday], overall the major U.S. indices have been trending sideways to lower. Next week could be a key week for trend setting as the focus shifts away from the Fed and economic data over to corporate news,” said Colin Cieszynski, chief market strategist at CMC Markets.

From a technical viewpoint, the fact that the S&P 500 successfully rebounded after breaching the closely-watched 2,115-level on Thursday is a positive sign, according to strategists.

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