The week ended with Dow and S&P down and Nasdaq up thanks to Google. This market has been very confusing so far with market up sharply one day, the next day sharply lower and then the markets went different direction on Friday. No doubt in my mind the market participants are confused and struggled to get a handle on the strength of the economy and the inflation picture.

As the market continues to interpret some of the economic data due out this week and how they will impact the Fed’s decision on raising rate. I believe we won’t have a rally until the Fed meet next time and give the market a clear direction on what it is going to do with the interest rate. The market believe .25pt is for sure, but will the Fed raise .5pt. I think that’s what worrying the market.

Economic Data
Tues:

Thurs:

Fri:

Earnings
Mon – Texas Instruments and Arch Coal
Tues – Amazon, Coach, Haliburton, Corning
Wed – Amylin Pharma, Anheuser-Busch, Biogen, ConocoPhilips, Newmont Mining, Lucent, Garmin, Wellpoint
Thurs – Aetna, Microsoft, XM Sat

This entry was posted on Sunday, October 23rd, 2005 at 10:32 pm and is filed under Stock Market, Weekend Review. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.