After investors enjoy a long weekend courtesy of the Memorial Day holiday, they will be greeted upon their return by a flood of economic data, with most reports expected to be negative.
In recent weeks, the decline in economic data has slowed, but data continue to be weak with very little sign of improvement, leading many traders to wonder when a marked improvement will come. Despite this, market analysts say next week could end with gains, if history is any indication. Ryan Detrick, senior technical strategist with Schaeffer's Investment Research, says that while the market is trapped technically between 875 and 940 on the S&P 500, the Memorial Day week could give bulls something to cheer.
Earnings and Economic Data
Several economic reports will be in focus over the four trading sessions next week, with a wide range of data that will give traders a glimpse into the health of the housing and job markets, as well as how the consumer is holding up.- Loading Comments...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,058.64 | 1,070.52 | 2,150.87 | 36.33 |
Oil *
72.02
|
|
UP
150.25
|
UP
13.78
|
UP
24.82
|
UP
0.41
|
10 Yr
3.63%
SPDR Gold
105.45
|
|
+1.52%
|
+1.30%
|
+1.17%
|
+1.14%
|
Data delayed 20 minutes |
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