NEW YORK ( TheStreet) -- With most of the blue-chip earnings reports out of the way, Wall Street's attention will swing back to the macro headlines in the coming week, headlined by the all-important April jobs report on Friday.
Concerns about Spain's intensifying debt crisis were set aside, if only temporarily.
The Dow Jones Industrial Average rose 1.5% over the week, while the S&P 500 and the Nasdaq climbed 1.8% and 2.3%, respectively.Next week will bring key reports on manufacturing and consumer spending then culminate in the Labor Department's Employment Situation report on Friday. The economy added only 120,000 jobs in March, about half the gains posted in the previous three months, disappointing investors who were hoping for continuing signs of a strengthening economy. > > Bull or Bear? Vote in Our Poll Recent economic reports have been more mixed, with jobless claims data and first-quarter GDP coming in weaker than expected, but consumer sentiment and housing data delivering positive surprises. "The big debate is how much of the recent gains were weather-induced and whether there will be payback in the next few months," said Dan Greenhaus, chief global strategist at BTIG. Federal Reserve Chairman Ben Bernanke said at press conference last week that the unusually warm weather may have inflated the job numbers for January and February, making March's soft report artificially weak. Given how hard it is to tell how much weather is a factor in the data, Greenhaus said he believes investors should focus on a two-to-three month trend rather than a single month's report. Investors may also want to adjust their expectations about the economic recovery, according to the analyst. "A robust, meaningful expansion in the economy is just not unfolding. The less investors expect that to unfold, the less likely they are to be disappointed," Greenhaus said.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
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.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
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.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV