Investors observed little to be thankful for during the last week of trading.
The past week was an abbreviated one in the U.S. due to the observation of the
Thanksgiving holiday and as it turned out, the past week in the U.S. was one of
the weakest Thanksgiving weeks in recent history. The primary market indices in
the U.S. finished red for the week overall once again. Stocks continued to push
lower due, in part, to the negative weight stemming out of the eurozone. Markets
in the eurozone remain confounded as they attempt to deal with the ongoing debt
crisis in the area. Global markets have been negatively affected as a result.
This week, investors will keep an eye on the bond yields that have once again
crept higher in most eurozone countries to levels that have provoked extreme
anxieties, like in Italy and Spain. Headlines will break this week as the
countries continue to process through a series of debt auctions. Last weeks
results were disappointing and indices fell lower. Investors will observe
results this week and headlines will drive the marketplace. In addition to the
eurozone headlines, economic news in the U.S. will help push index trends. New
Homes Sales and the S&P Case Schiller home prices index will post this week.
Consumer confidence data will post on Tuesday as well. This report is expected
to skew positive. At mid-week, the Institute for Supply Managements
manufacturing report will post and investors will also focus on the Labor
Department data that will post in the latter half of the trading week. November
jobs data is expected to be a plus, but the unemployment rate is expected to
remain at 9 percent. Frank Matto
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