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dow2664 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 week’s 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 Lowe’s and Sysco. Frank Matto
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