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Last was one of the worst week’s for stock market action in months. The Dow Jones Industrial Average fell 2.2% as did the S&P 500. The Nasdaq Composite fell off 2.4% last week as well. Last week, investors worries about debt crisis in Europe and if China was tightening its belt from a monetary standpoint. This week will be pivotal in influencing stock direction. On Monday, a retail sales report for October will be posted and is expected to reveal positive numbers for retail sales in October. In addition on Monday, a report will post on September inventories and this report is expected to reveal that consumer demand has not been strong to keep supply from building up at businesses. On Tuesday, the U.S. governments report on producer prices is due out and is expected to have risen in October. Wednesday will bring the consumer price index report and this report is expected to reveal a drop from Septembers mark of .8%. On Thursday, President Obama will meet with congressional leaders to discuss economic policy. A big point of discussion will be the Bush-era tax cuts. Will they be extended or extinguished? Eyes and ears of the economy will be geared towards processing the information that stems from this day. Federal Reserve Chairman Ben Bernanke will provide more information and detail relating to the Fed’s bond buying initiative aimed at stimulating the economy. Currently there is a positive tone in the marketplace as all three major index values are going green. World markets are moving in a positive direction as well prior to opening bell for the U.S. session for November 15th, 2010. Author: Frank Matto
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