The major market indexes closed on Friday in the green with the Dow up 125.71
points or 1.13%, the Nasdaq increased by 15.3 points or 0.61% and the S&P 500
rose 6.17 points or 0.53%. Although the day ended on a positive note, the major
market indexes will all post modest losses for the week as investors review the
wild swing of events that saw the Dow plunge and then bounce back on two
consecutive days. The overall week will show the Dow decreased by 1.5%, the S&P
500 dropped 1.7% and the Nasdaq was in the red at just under 1%. Despite the
dramatic ups and downs displayed this week, stocks are on track for one of their
worst months since the onset of the financial crisis. Investors will brace
themselves for the risks of the upcoming week with a full schedule of economic
reports as well as a full line up of earnings reports featuring Wal-Mart, Home
Depot, Lowes, Dell and Hewlett-Packard taking center stage. On Monday the
Federal Reserve Bank of New York will release the Empire State Manufacturing
Index. The National Association of Realtors will report the Homebuilder
Sentiment Index. On Tuesday the Commerce Department is set to report on
Industrial Production and housing starts and building permits. On Wednesday the
Mortgage Bankers Association will release information on weekly mortgage
applications and the Labor Department will release the Producer Price Index. On
Thursday the Labor Department will release the Initial Jobless Claims report as
well as the Consumer Price Index. The Federal Reserve Bank of Philadelphia will
report the Philly Fed Index and the National Association of Realtors will report
on existing home sales. No major economic reports are scheduled for release on
Friday. Author: Pamela Frost
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