filed in My Investments on Oct.04, 2009
Monday will mark the start of another week for traders, and after a good run up on strong reports, last week showed that surprises still linger around new corners and caution will be key. With respected economists like Greenspan saying that its not crazy to anticipate 15% unemployment rates and questions lingering in the banking sector, like who will replace Ken Lewis as CEO for (BAC) or if US government will sell their stake in Citi (C) as the Saudis keep asking. Stocks could start off Monday trying to find direction before finally stabilizing towards the end of the week.
With a few economic indicators expected this week, eyes will once again focus on Jobless reports.
date report forecast previous
Oct. 5 ISM services 50.0% 48.4%
Oct. 7 Consumer credit -$10.0 billion -$21.6 billion
Oct. 8 Jobless claims 535,000 551,000
Oct. 9 Trade balance -$33.0 billion -$32.0 billion
In terms of trade, there are now signs that America is once again importing goods which is great as that means consumers are spending and purchasing, but the sour note is the fact that exports still remain low. Production is still limited and demand from overseas for American goods remains weak.
(AA) Alcoa is kicking off another earnings season with their numbers this week also. On Wednesday after the close, all eyes will be on this company and perhaps an indicator of company results to come in the following weeks.
Here is a quick video on the week ahead:
Hope you all following the earnings and indicators and play wise.
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