Stars are align as retail sales are strong this holiday season with 14% jump in Visa card spending compare to prior year, Feds appears to be easing on the rate, energy prices are coming down, and there is light at the end of the tunnel in Iraq. All these reason points to a jolly Holiday season.

Following are the economic data due out next week.

Nov 28 Existing Home Sales Oct
Nov 29 Durable Orders Oct
Nov 29 Consumer Confidence
Nov 29 New Home Sales Oct
Nov 30 Chain Deflator-Prel. Q3
Nov 30 GDP-Prel. Q3
Nov 30 Chicago PMI Nov
Nov 30 Crude Inventories
Nov 30 Fed’s Beige Book

For personal reason, I’m especially interested in the Existing and New Home Sales on Monday and Tuesday respectively. I’m currently holding position in Beazer homes and these two pieces of data will no doubt affect the home building industry. I’m expecting the data to be “weak” as the market have slowed due to interest rate.

GDP number is due out on Wednesday and expectation has been revised upward to 4% from 3.8%, partially due to Katrina reconstruction effort.

But can market really push higher above Dow 11,00 or are we going to fall back down and continue to be in this trading range. Only time will tell but for an immediate prediction the market will shoot out of the gate on Monday.

This entry was posted on Sunday, November 27th, 2005 at 9:44 am and is filed under Stock Market. 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.