Stocks slip as investors wait for earnings

NEW YORK (CNNMoney)

The Dow Jones industrial average, the S&P 500 and the Nasdaq all edged lower in early trading.

Investors are still digesting Friday's jobs report, which showed a big slowdown in job creation in the final month of 2013. Many experts are now saying colder-than-normal temperatures in December hit hiring.

Despite the lousy jobs report, stocks managed to end higher Friday as investors generally believe the economy will continue to improve in 2014.

Related: Wolves of Wall Street to report earnings

Now investors are looking ahead to the first big round of fourth quarter earnings coming later in the week.

JPMorgan Chase (JPM, Fortune 500) and Wells Fargo (WFC, Fortune 500) are scheduled to report Tuesday morning, while other big banks Bank of America (BAC, Fortune 500), Citigroup (C, Fortune 500), Goldman Sachs (GS, Fortune 500) and Morgan Stanley (MS, Fortune 500) are also on tap to report their results.

General Electric (GE, Fortune 500) and Intel (INTC, Fortune 500) are up later in the week too.

What's moving: Yoga apparel retailer Lululemon (LULU) cut its fourth quarter earnings guidance, saying that traffic and sales have declined since the beginning of January. The stock tanked on the news.

SodaStream (SODA) shares plunged after the company said profits for 2013 will fall short of expectations, due in part to weak holiday sales in the United States.

Shares of Beam (BEAM) shot up after the spirits maker announced it was being acquired by Japan's Suntory for $16 billion. Beam, most well-known for its Jim Beam brand of bourbon, said the transaction was expected to close in the second quarter of 2014. Suntory is agreeing to pay $83.50 per share -- a 25% premium over Beam's closing price on Friday.

Twitter (TWTR) shares surged after analysts at Goldman Sachs praised the stock in a research report. The social media company was the biggest gainer in CNNMoney's Tech30 Index of leading technology stocks.

Related: Ford unveils all-new F-150 in Detroit

Shares in automakers may also be moving this week as Detroit hosts the North American International Auto show. Major automakers such as General Motors (GM, Fortune 500) and Ford (F, Fortune 500) use the event to showcase their newest vehicles and innovations.

Related: Fear & Greed Index remains in Greed mode

European markets edged higher in afternoon trading. Asian markets ended with mixed results.

First Published: January 13, 2014: 9:48 AM ET

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