What to Expect for Holiday Week - Analyst Blog
19 Diciembre 2011 - 3:03AM
Zacks
Given the general dearth of domestic economic news today, the
market will likely get a lift from the temporary payroll tax cut
extension deal over the weekend. Bond yields on European government
bonds, particularly in Italy, are also relatively stable today,
belying the Friday threats from the credit rating agencies. Markets
will also be sizing up the potential instability on the Korean
Peninsula following the death of North Korean leader Kim Jong
Il.
This week brings up a flurry of economic releases, as the
holiday schedule has a number of reports expected. There is a heavy
concentration of housing-related reports on the docket this week,
with Housing Starts on Tuesday, Existing Home Sales on Wednesday
and New Home Sales on Friday. We also have the final read on the
third quarter GDP report on Thursday, while the Durable Goods and
Personal Income reports come out on Friday.
Overall trading volumes are typically at their lowest point at
this time of the year, which makes it difficult to assign meaning
to the market’s day-to-day action. Low volumes also tend to
exacerbate market volatility. As such, don’t be surprised by sharp
market moves in either direction over these last trading sessions
of the year.
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