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Market hoping for earnings season boost

Watch earnings, China, and the ECB next week

Maybe it's earnings season that will turn the tide for stocks.

Earnings are expected to show the worst decline since the financial crisis, yet analysts are holding out hope that the bar is low, earnings will beat and that will help pull the market out of its worst new year slump ever.

"What's going to have to happen is, you'll see earnings come in and you'll see the reality of how the corporate picture looks," said Brad McMillan, chief investment officer at Commonwealth Financial. "We got a lot of bad news priced into the market. I think some positive earnings surprises could help change the mood."