First-quarter earnings reports for the big banks weren’t bad on the surface. But banks had to pull some rabbits out of the hat to do it. For example, Goldman Sachs skipped December in order to post improved numbers.

This could get ugly. Another month, another 600k+ jobs expected to be lost. This would mark the 16th straight month of job losses, just one month short of the longest streak in history.

When it comes to the U.S. stock market right now, the story continues to be about earnings. And this week will be no exception.

I should not have to tell you that this is going to be a big week, a monumental week, really – not only for the country, but for Wall Street.

The forces of the universe are pulling against one another. Tomorrow at noon, the nation will gain a leader that has inspired hope in millions of Americans. Economically, Obama’s stimulus plan is viewed as the last chance to keep the nation’s economy from retreating to a full-on depression.

I will be watching closely to see if Obama’s 6-foot-1-inch body shrinks at the exact moment he places his left hand on the bible as the weight of numerous global crises is piled on his back. It will take one heck of a leadership…

Rick Pendergraft says we won’t see an economic recovery before one of the housing, auto or labour markets stabilize. Friday’s nasty unemployment data and earnings reports from GM (NYSE:GM), Ford (NYSE:F ) suggest that our hopes are resting on real estate.

Stocks Sideways as Earnings Reports Await… Gold Shrugs off IMF Sale Report… Dire Forecast From World’s No. 2 Oil Producer… Food Riots in Africa, Caribbean…and a Worrisome Sign in New York City… Kerr’s Farmer Contacts Bring Bad Tidings on Ethanol Plants, 2008 Crops.