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New earnings reports will show state of the economy

11:29 AM, Jul 25, 2013   |    comments
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(NBC News) -- We're keeping an eye on Wall Street this morning. A slew of new earnings reports are due that could give us a better idea of how healthy the economy is.

The market opens today after landing down 25 points Wednesday, despite strong reports from Apple and Facebook. Today dozens more reports could determine how investors react.

This morning we'll see if Wall Street lands in the black after a slight downturn Wednesday.

Several new reports could affect that - airlines, Samsung, Amazon, Starbucks, and General Motors are all due out today.

Analysts think Amazon will post better than expected earnings and - despite Detroit filing for bankruptcy - so may GM. "Even the banks which were so troubled for so long have turned out very good profits. So I'd say all in all companies are doing maybe even a little bit better than the general economy is doing," said CNBC's Tyler Mathisen.

In fact, the market's been climbing steadily since its big tumble in March.

The S&P 500 Index is up nearly 150%.

But President Obama said he realizes the middle class is still struggling. "The income of the top one percent quadrupled from 1979 to 2007, but the typical families' income barely budged," said the President.

His latest round of economic speeches continue today in Florida. However, in Washington, Republicans criticized them as "all fluff." "It's a hollow shell, it's an Easter Egg with no candy in it[.] Americans aren't asking the question 'where are the speeches?' - they're asking 'where are the jobs?'" said House Speaker John Boehner, (R) Ohio.

Ford is adding more jobs in Detroit where some are finding work, but the city overall is struggling.

An NBC-Wall Street Journal poll says that about a third of Americans think the economy will get better over the next year, one in five think it will get worse. Most expect no change at all.

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