This piece was updated on Feb. 8, 2015 at 8:30 a.m. ET to reflect overnight movement in futures markets.
It is tough to be optimistic in 2016 with the S&P 500 down 8% year to date and the Dow Jones Industrial Average frequently showing triple-digit drops. Even tech darling LinkedIn (LNKD) is down 51% for the year after the company reported solid fourth-quarter earnings, but weak 2016 guidance.
While most Asian markets are closed for Lunar New Year, Japan's Nikkei 225 Index closed up 1.1% on Monday.
Stock index futures pointed to a lower open on Monday morning: the Dow futures are down just over 200 points, S&P futures are down 28 points and the Nasdaq is down 92 points as of 8:30 a.m. While WTI oil futures were up slightly to just under $31 a barrel on Sunday evening, on Monday morning they were down 3.37%, just below $30 a barrel.
It will be an exciting week for U.S. equity markets as a number of big-name companies are expected to report earnings. Of course, if there's one thing markets have had too much of in 2016, it's excitement.
On Tuesday, Coca-Cola (KO) is due to report. Investors will surely be watching to see how the company's "Share a Coke" campaign worked amid a culture that is increasingly shunning sugary carbonated beverages for locally sourced, healthier-sounding juices and energy drinks. Last quarter the Atlanta-based company reported earnings of $0.33 per share on revenue of $11.4 billion. The company acknowledged currency headwinds in third quarter, which will likely play into this quarter as well.
Walt Disney (DIS) is also due to report on Tuesday and people will no doubt be eager to see the impact of "Star Wars: The Force Awakens" on its numbers. But while the latest Star Wars flick broke box office records, a significant portion of Disney's revenue is derived from its cable properties, such as ESPN, which have been threatened by a generation of cord cutters. (I took notes on this piece while streaming Super Bowl 50 on my Roku.) Last quarter, Disney reported $13.5 billion in revenue and earnings of $0.95 per share. Shares of the company are down 10% year to date.
Following some of the recent tumult seen in tech, Twitter's (TWTR) earnings will surely garner interest when the company reports on Wednesday. Shares of the company have plunged 32% so far this year and are down 62% from its IPO. In a meta moment, on Friday evening Twitter itself became a trending topic on the service as users tweeted #RIPTwitter following a Buzzfeed report that Twitter was considering displaying its tweets algorithmically rather than chronologically. Not a great way to go into earnings.
If you enjoyed the Super Bowl's halftime show, you may be interested in PepsiCo's (PEP) earnings as the company is due to report on Thursday. The company has been making moves into healthier foods and beverages, such as Sabra hummus and Naked juices. But on Friday, Bloomberg reported that Chobani rejected Pepsi's bid for a majority stake in the company. Last quarter the company reported earnings of $1.35 per hare on revenue of $16.3 billion.
Finally, with the Super Bowl coming to a close, if you need another reminder that Valentine's Day is around the corner -- and on a holiday weekend no less -- Blue Nile (NILE) also reports earnings on Thursday. Last quarter the company reported earnings per share of $0.17 on revenue of $109 million. While the company primarily deals in selling diamonds online, it recently started opening bricks-and-mortar locations.