The Week Ahead: Stay on Your Toes

Wow -- what a ride last week was in stock-market land. The S&P 500 fell nearly 3.6% from last Tuesday's close through Friday's finish, and the culprits behind this were twofold. First there was the iffy Federal Reserve stimulus tapering timetable, as laid out Wednesday by Chairman Ben Bernanke. Second, there was the weaker-than-expected June flash purchasing managers index reading for China. I'd also point out that the details in the U.S. flash manufacturing PMI for this month were not all that great.

For any subscribers to Real Money Pro, here is my take on all this in case you missed it -- but the elevator pitch here is that the market reacted to Bernanke comments that were littered with "ifs". As I see it, Big Ben and the Fed have left themselves a great deal of wiggle room when it comes to stimulus tapering in the coming months. I suspect the market will realize this as it digests Bernanke's commentary further, and if U.S. economic data remain tepid. ...767 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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