The stock market in the U.S., as well as the global market place, is currently
being challenged. Stock indices are being pressured and recent outcomes have
skewed negative. The Dow Jones Industrial Average dropped lower by over 172
points last session and closed out at 10,817.65. The Nasdaq finished lower by
over 38 points to close out at 2,341.84 and the S&P 500 closed lower by over 17
points at 1,123.53. The Dow Jones ended the week lower overall by 4 percent. The
Nasdaq ended the last week lower by 6.6 percent and the S&P 500 ended lower by
4.7 percent. The indices in the U.S. have been taking cues from markets overseas
and the cues have been negative. More of the same volatility is expected for the
upcoming week. Economic posts expected over the next week will attract an above
average amount of attention. Investors on Wall Street will attempt to process
new data in hopes of extracting more positive spin. There are no noteworthy
economic posts scheduled for Monday in the U.S. Stock market trends are likely
to follow global market cues this day. On Tuesday, new homes sales data is
scheduled to post via the Commerce Department. Economists expect this report to
skew negative. Noteworthy earnings data this day will post from H.J. Heinz. On
Wednesday, investors will focus in on the durable goods orders data posting for
July from the Commerce Department. This report is expected to remain relatively
flat. On Thursday, weekly jobless claims data will post via the Labor
Department. Investors are expecting unemployment claims to post better than last
weeks unemployment claims data. Noteworthy earnings data this day will post from
Big Lots and Hormel. On Friday, all ears will be tuned in to hear if Federal
Reserve Chairman Ben Bernanke posts any positive comments about economic
progress. In addition, the University of Michigan is scheduled to release its
consumer sentiment data and the second reading on the GDP is due out from the
Commerce Department. Noteworthy earnings data a this day will post from Krispy
Kreme and Tiffany. Frank Matto
No comments:
Post a Comment