After another roller coaster ride of a week in the U.S. stock market, Wall
Street will try to extend the positive action observed over the last two days of
last weeks trading sessions. The major index composites saw significant sell
offs that resulted in negative index trends on Monday and Wednesday, but also
saw significant rebound attempts on each day that followed the sell-offs. The
composites then strung together two consecutive days of positive trends to end
the week. The credit downgrade for the U.S. caused a great deal of instability
and uncertainty in the marketplace last week, but this current week appears to
be free of any news that could skew trends negatively to the extent that the
downgrade did to trends last week. Investors on Wall Street will look to carry
over the positive momentum that built in the market place on Thursday and Friday
in an attempt to break the string of weekly losses. The Dow was off 1.5 percent
last week. The Nasdaq was off last week by about 1 percent and the S&P 500 was
lower by 1.7 percent. On the docket for today will be the Empire State
manufacturing index from the Federal Reserve Bank of New York. In addition, the
National Association of Realtors will post the home-builder sentiment index.
Some noteworthy earnings data will stem from Lowes and Sysco. Frank Matto
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