This Weekâ€™s Market Expectations
With everyone stocking up on turkey and stuffing for Thanksgiving, investors are stocking up before next week’s short financial week arrives. Here are the many things you should keep your eye on this week.
As usual, Europe dominates our market as they continue to try and step up to help their troubled economic status. New Italian leader Monti is currently working on a plan to stop the country from defaulting and is already meeting with leaders to get things moving. However, as Italy moves forward, investors show their skepticism in Italy’s success, as Italian bonds fell for the first time today.
In addition, there are many reports to watch that are set to be released this week, including retail sales, inflation reads, factory usage, housing starts/permits and the very important Philadelphia Fed Index. While these reports don’t hold as much weight as European issues, with mortgage rates stuck at a 10 basis point yield range despite European news, they may be the momentum the market needs. The longer these rates find resistance at their current levels, the more concerned we should be that rates may have finally reached bottom.