The Week Ahead: Zero In on Spending

Volatility returned to the stock market last week following a pair of economic readings that suggested a new economic contraction in China and a continued one in the eurozone. The flash purchasing managers index for China, in particular, led to a significant pullback in Japan's Nikkei 225 Index -- which nonetheless remains up more than 40% for the year. The reading also reignited global growth concerns.

The U.S. stock market declined following that data, but to a far less degree. In domestic data, April durable-goods orders were favorable for core capital goods and aerospace and defense, and we saw month-over-month improvement in last month's new-home sales. However, the market was weighed by renewed speculation as to when the Federal Reserve will start to taper its stimulative efforts....561 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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