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Sunday, December 19, 2010

Stock Market:Looking Forward to Next Week!

If you're a bull, you have to love this market. Stocks are up pretty nicely with just nine trading days left in the year.

The next week is a short week because of the Christmas holiday. The week after will be a full week of trading, but volume will be low because Wall Street players will head to the vocation.

There are some economic reports to monitor. All of them come on Wednesday or Thursday. And key reports are due on the economy, home sales and consumer confidence.

There aren't many earnings reports, Including Adobe, Darden Restaurants, Nike and Bed, Bath & Beyond report results.
There are downsides to consider, starting with the national unemployment rate at 9.8%. 

The price of oil is just below $90 a barrel. The average price of gasoline is near $3 a gallon; a big move above that level will have psychological effects that could hurt the travel, airline and, of course, auto industries.

Interest rates bottomed in October but are higher, and the housing business is dicey. Foreclosures are expected to accelerate next year.

And there is Europe and its debt problems. 


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