Inflation data and potential earnings surprises will give the market spice in the holiday-shortened coming week.
"Last week we saw earnings pre-announcements and a higher-than-expected producer price index move stocks," says Brian Williamson, equity trader at Boston Company Asset Management. "Next week, we expect more earnings surprises and the CPI to provide the volatility."
Stock and bond markets will be closed Monday in observance of Martin Luther King Jr. Day. When traders return Tuesday, they will be treated to capacity utilization and industrial production figures for December. Economists surveyed by Thomson First Call expect utilization to increase to 80.5% from 80.2% the prior month. On the production end, they are looking for a slight decrease to 0.6% from 0.7% in November. ...
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