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[video] Quick Take: Data to Watch Next Week

Stocks in this article: SPYDIAQQQTLT

NEW YORK (TheStreet) -- Next week will be slow in terms of economic data, but two items to watch out for is the personal income report and the durable orders results. TheStreet's Brittany Umar is with Chris Versace, a contributor to Real Money Pro, with further insight. 

Umar pointed out the lack of wage fluctuations in the monthly jobs reports. Versace said the two data points he really focuses on in the personal income report are disposable income and the savings rate. 

He elaborated, explaining that disposable income was the amount of money consumers had for spending on goods that they want. Disposable income will be an important metric at this time of year, heading into the end of the holiday season.

The savings rate simply implies how much money consumers will have available to spend in the future, he said. 

Turning to the durable orders report, Versace said he wanted to see if it would reinforce the strong ISM report we saw from November. 

He added that investors could remove certain data points, such as defense spending, to get a better feel for the overall economy. 

While next week will be pretty quiet due to the holidays, Versace suggested investors keep an eye out for any companies that try and sneak out a negative announcement, in the hopes that it will go unnoticed during a slow week of trading.

-- Written by Bret Kenwell in Petoskey, Mich.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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