The last trading week showed increased volatility as investors confidence
fluctuated with the up and down news reported on the ongoing debt crisis in the
eurozone. A rally at the end of the week resulted from positive reports on new
developments from the eurozone, pushing global markets forward. The Dow Jones
Industrial Average closed the last trading session higher by 1.55 percent at
12,184.26. The Nasdaq finished the day green by 1.94 percent at 2,646.85. The
S&P 500 finished the day higher by 1.69 percent at 1,255.19. Gold finished the
week lower overall but the last session green. Despite the rally on the last
trading session, the week ended overall just above break even. Investors will
continue to follow the latest reports on the eurozone closely as well as keep
tabs on upcoming reports on the economic calendar. Over the next week, 12
initial public offerings are due. These include online game developer Zynga and
fashion retailer Michael Kors. On Tuesday the Federal Open Market Committee
meets to discuss interest rates and potential policy changes to boost the
economy. The Commerce Department will release retail sales for November as well
as earnings scheduled from Best Buy, Learning Tree International, and Fact
SetResearch. On Wednesday, earnings will post from Verifone Systems and Joy
Global. On Thursday, the Labor Department will release the latest jobless claims
for the week of Dec 10th, the Commerce Department will report on Industrial
Production for November, and the Federal Reserve Banks of New York and
Philadelphia will release the Empire State and Philadelphia Fed manufacturing
surveys. Also on the agenda for Thursday, the highly anticipated earnings report
from FedEx will post as package volumes jump in the holiday season. Earnings
also in the spotlight for Thursday are consulting giant Accenture, Adobe
Systems, Discover Financial, Research in Motion and Pier 1 Imports. On Friday
the Labor Department will report on the Consumer Price Index for November.
Author: Pamela Frost
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