The January Effect Continues For Now

Once again, the January effect seems to be in motion as the global stock indexes are all surging. This morning, the S&P 500 Index e-mini futures are trading higher by 14.00 points to 1289.50 per contract. Traders and investors seem to be in jubilee mode at the start of the new year. Last night, after the closing bell, Alcoa kicked off the corporate earnings season. The company reported a fourth quarter loss, however, the stock is holding up fine and is actually trading up 0.27 cents ahead of the opening bell. Later in the week, J.P. Morgan Chase & Co (NYSE:JPM) will be the first financial stock to report earnings and that is when this market could get really interesting again.