The lack of posting this past week has been due to a busier week than usual. Maybe that means the my social life and work life are on the upswing. Maybe that means the general social and work lives of the economy are as well... last week's rally sure seems to think things are safe and getting better. Maybe that's a stretch and too optimistic though. Nonetheless, another week of earnings and economic news is upon us. NOTE: if the S&P500 breaks/closes above 955 we could likely be off to the races of nearing the 1000+ mark in short order.
S&P 500 start = 940
MONDAY = Leading economic indicators at 10am (expected to show an increase of 0.5% for June). The actual reading came in with an increase of 0.7%. This is the 3rd straight monthly increase. Despite continued substantive job losses, it appears that the bottom of a slow recovery is building. Job losses and a strapped consumer will continue to hinder the strength of the recovery but cannot totally prevent economic improvement and profit.
THURSDAY = Initial jobless claims at 8:30am (expected to bounce back up to 560,000 after the 522,000 mystical number from last week); Existing home sales at 10am (expected annual sales rate of 4.85 million, up from the 4.77 million of May)
FRIDAY = Consumer sentiment at 9:55am (expected to increase to 65 after last month's decline to 64.6)
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