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Stocks ended the last week in the red, due in part, to the threats that loomed regarding the government shutdown. Crisis averted, for now. President Obama and Congress worked out a temporary deal that will keep the government humming for a short period. Overall last week, little action played out and stocks were relatively flat. The Dow Jones ended at 12,380. The Nasdaq finished at 2,780.42 and the S&P 500 ended the last week at 1,328.17. Stock indicators should begin to receive more of a push as earnings season is upon us. On Monday, an analysis report on the Dow components is due. No other major economic reports are due out this day. On Tuesday, the monthly report on federal revenue and spending is due to post. In addition on this day, the U.S. trade balance and export and import prices will post. Also in late afternoon, the Federal Reserve will post its Beige Book report to give investors a glimpse at the overall state and health of the economy. On Wednesday, the Mortgage Bankers Association will report on mortgage applications and this report is expected to be flat or negative. The housing sector has been weak for a while and little evidence at this time suggests that the report will show any dramatic improvements. The Commerce Department will report on retail sales in March, as well as the business inventories report. On Thursday, the Labor Department will report on initial jobless claims and the Producer Price Index report from March. We will see the Consumer Price Index report from the Labor Department for March on Friday. The Federal Reserve Bank of New York will report its Empire Manufacturing Index on the last trading session of the week as well. Also, we will get preliminary data results from the University of Michigan Consumer Sentiment Index report due this day. Investors will keep a close eye on indicators as they attempt to process and predict momentum swings. Negative pressure will still weigh on investors and push index composites. A government shutdown is still a possibility and will be on investors minds. The crisis in Japan will continue to apply negative pressure to world markets. Rising crude price per barrel will definitely be a trend that investors will observe closely. Rising interest rates is another variable applying negative pressure in the current economic environment. Many variables will play a part during this week’s open trading sessions to influence trading and trending. Author: Frank Matto
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