This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Mortgage Mess: Weekend Reading

NEW YORK ( TheStreet) -- Good Sunday afternoon, and welcome to another edition of Weekend Reading. First a look back at the week that just finished, then a look at the week ahead and, lastly, a summary of articles and research papers worth reading.

It was another positive week on the major equity markets. All three major U.S. indices ended higher, with the Nasdaq leading the way with 3.6% gain, the S&P 500 up 1.1% and the Dow Jones Industrial Average rising 0.5%. Tech was a primary catalyst, with earnings outperformance from companies like Google (GOOG) taking stock markets higher. But the gains were fairly widespread -- outside of banks, that is. The mortgage fraud allegations continue to make this lifeless sector even more lifeless than usual.

Looking ahead to next week, all eyes are on the escalating mortgage mess. Left with the option of banking executives being either stupid or criminal, many investors are increasingly selecting "all of the above." This saga will grow louder in the coming week, with no good outcomes obvious.

> > Bull or Bear? Vote in Our Poll

Turning to economic indicators, the Fed will issue its Beige Book review of economic indicators during the week. Everyone will be looking for hints about QE2, and widespread economic weakness will just reconfirm its likelihood.

As for earnings, next week will bring reports from beleaguered banks Wells Fargo (WFC), Citigroup (C) and Bank of America (BAC).

Also on tap will be reports from tech heavyweight Apple (AAPL), Caterpillar (CAT) and Johnson & Johnson (JNJ).

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,723.50 -81.21 -0.48%
S&P 500 1,932.82 -13.34 -0.69%
NASDAQ 4,386.9370 -35.1480 -0.79%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs