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NEW YORK (

TheStreet

) -- The market shrugged off a ton of shaky economic data on Thursday as

LinkedIn

(LNKD)

-inspired euphoria seemed to serve as a cure-all.

The problem is the business-oriented social networking company's

impressive debut

is an impossible act to follow, and there could be a hangover for the broad market to deal with after the stock closed up more than 100%. At one point, the shares ran as high as $122.70, a gain of 170% from LinkedIn's pricing at $45 per share.

The

Dow Jones Industrial Average

is now up about 10 points for the week so Friday's direction is likely to determine whether the blue-chip index falls for a third straight week for the first time in 2011 or breaks the streak.

Retail investors have continued to trend toward bearishness, according to the

latest American Association of Individual Investors survey

, which found 41.3% of respondents fell in the bear camp for the week ended on Wednesday. That's up 5.8% from the week before, and well beyond the long-term average of 30%.

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Those identifying themselves as bullish in the survey, which draws from the organization's 150,000 members and asks how they feel about the stock market for the next six months, came in at just 26.7%, down 4.1% from last week and far below the long-term average of 39%. The remainder of those polled identified themselves as neutral.

Thursday's

after-hours session

was a busy one with disappointing results from both

Gap

(GPS) - Get Gap, Inc. (GPS) Report

and

Aeropostale

(ARO)

set against positive reports from

Salesforce.com

(CRM) - Get salesforce.com, inc. Report

and

Foot Locker

(FL) - Get Foot Locker, Inc. Report

.

Quarterly reports of note due on Friday are few and far between.

AnnTaylor Stores

(ANN)

is always good for some insight into how the affluent consumer is doing, and the company has topped Wall Street's expectations in three of the past four quarters.

The consensus for the April-ended period calls for a profit of 48 cents a share on revenue of $512.1 million, and there's bullish lean ahead of the numbers with 12 of the 19 analysts covering the shares at either strong buy (12) or buy (12). The stock closed Thursday at $30.20, up 12.5% so far in 2011 and 50% over the past 52 weeks, so the snapback if there's a shortfall could be harsh.

The market also gets a quarterly report from

E-Commerce China Dangdang

(DANG)

on Friday. The stock has pulled back more than 20% year-to-date, and at Thursday's closing price of $20.27, it's up a modest 27% from its IPO pricing at $16 back in December.

There's no economic data to really speak of on Friday but options expiration activity may provide some fireworks. There's also late-breaking news of an offer to acquire

Barnes & Noble

(BKS) - Get Barnes & Noble, Inc. Report

from

Liberty Media

for $17 per share in cash, a premium of more than 20%, to consider. Barnes & Noble shares were already trading at $17.50 in after-hours action, showing at least some investors are betting that it'll take a bigger bid to get a deal done.

--

Written by Michael Baron in New York.

>To contact the writer of this article, click here:

Michael Baron

.

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