Ear to the Ground for Spending Clues
Last week was a quiet one for the stock market: Volumes were low, and the S&P 500 was little changed for the week, losing 0.3%. I chalk that up to two things. First, this is the unofficial end to summer, and people are squeezing in their last round of summer vacation before school resumes. Second, many are waiting to see if the Federal Reserve will implement further quantitative easing -- and, if so, to what degree.
Following Fed Chairman Ben Bernanke's anxiously awaited speech at Jackson Hole, Wyo., this past Friday, we know another round of stimulus is possible, if not likely. To me, this says the forthcoming data this week will be closely watched, prodded and dissected. These data will include the August read on manufacturing from the Institute for Supply Management and the monthly barrage of employment reports from ADP, Challenger Grey and, of course, the Bureau of Labor Statistics. As tends to be the case, economists and analysts will fine-tune their forecasts as the employment data train rolls through the week....421 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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