Bear trap
The bear downbeat might keep thumping this week amid concern over disappointing earnings, fallout from a lackluster jobs report on Good Friday and scarce demand for sovereign bonds in Spain. The Dow Jones industrials sank 1.1 percent during the shortened week. The index is still up 6.9 percent for 2012, but some investors worry that we’re headed into deeper bear territory.
AT&T relief
More than 40,000 AT&T employees will keep working while their union continues talks with the telephone giant after their contract expired this weekend, averting a potentially costly strike for now. AT&T, whose total workforce is roughly 256,000, is looking to trim benefits to cut costs in its traditional wires-based telephone business.
Big IPO week
Buyout firm Oaktree Capital kicks off the year’s busiest week for IPOs to date as it looks to raise nearly $600 million. The Oaktree offering, seen as an indicator for the Carlyle IPO, heads up a list of eight companies slated to go public this week. Among them are aluminum producer Aleris Corp.
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Dow Jones industrials, Oaktree Capital, sovereign bonds, lackluster jobs, disappointing earnings
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