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Actionable news in IBM: INTERNATIONAL BUSINESS MACHINES CORPORATION,

Week Ahead: Earnings Season Rolls On, Housing Sector Under Microscope

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Wall Street starts the second week of the quarterly earnings season on Monday, and any report that's better than bad may be cause for rejoicing.

Financial performance for the three months through March is generally expected to be weak, with a strong U.S. dollar, a prolonged period of low energy prices, and weaker global demand putting a dent in profits and revenues in companies across the 10 S&P 500 sectors.

"Anytime someone doesn't do as badly as we thought they were going to do, you're seeing these spikes in the market," Tom Siomades, head of Hartford Funds Investment Consulting Group, told TheStreet. "We won't do as badly as people think we're going to do, but let's face it ... the first quarter was highly volatile and then there's expectations that we post a pretty low GDP so that's going to translate into low earnings."

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S&P 500 profits are expected to fall 7.8% in the quarter, according to Thomson Reuters, the fourth straight decline and the worst losing streak since mid-2009. Excluding the energy sector, earnings are forecast to fall 2.5%. Around 7% of S&P 500 companies have already reported with just under two-thirds beating earnings estimates.

Tech and telecommunications stocks will be under the microscope this week with IBM (IBM - Get Report) and Netflix (NFLX - Get Report) reporting on Monday afternoon, Intel (INTC - Get Report) and Yahoo! (YHOO - Get Report) scheduled for Tuesday afternoon, Verizon (VZ) set for Thursday morning, and Alphabet (GOOGL - Get Report) and Microsoft (MSFT) reporting that afternoon.

Morgan Stanley (a>


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