For investors, last week started off badly, but ended up realizing gains by the time the last tick came in on Friday. The driving force of those gains was a plethora of positive earnings data and relatively bullish economic measures. This week, the gains, or losses, could be magnified by the sheer number of data points being released this week. (See last week’s Market Glance for more information on the previous week’s events.)
In terms of economic data, there will be plenty to digest. Measures of consumer vigor, manufacturing, housing and labor health will be released this week. On top of all these individual numbers, we’ll also get the culmination of U.S economic health – the gross domestic product (GDP).
As far as profit reporting is concerned, the so-called earnings season is alive and well. The vast bulk of the S&P 500 Index’s constituents will report over the next few weeks and the next seven days will see its fair share of sector bellwethers reporting.
As if this wasn’t enough, traders will see/hear a few different speeches from various Federal Reserve Governors during the week.
All in all, the last trading week in October could be full of surprises.
