Saturday, December 03, 2005
MarketWatch.com Stocks face new economic views
By Jasmina Kelemen, MarketWatch
Last Update: 12:01 AM ET Dec. 3, 2005 [ Page 1 | 2 ]
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SAN FRANCISCO (MarketWatch) - Investors will face new economic reports on productivity and consumer sentiment in the week ahead as they puzzle over whether the market's rally is running out of steam.
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The week's comparatively light dose of economic data, which also includes November's ISM non-manufacturing index, is unlikely to reverse optimism over healthy economic reports last week.
But despite the economy's solid growth, Wall Street's indexes turned in a mixed performance for the week just ended and some investors wondered whether any more money remains to push the benchmarks higher.
"We've reached new highs on most of the market averages and the question for me is where is the money going to come from to push the market considerably higher?" said Kenneth Tower, chief market strategist at CyberTrader.
"I don't see it, frankly. The stock market has gone up for 3 years now, anyone who hasn't invested yet, I don't see what's going to push them in now," he said.
"It's hard to come up with a scenario where a lot of money on the sidelines goes into stocks."
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FinancialsMore $INDU$INDU, , ) , which jumped more than 100 points Thursday, ended down 35.06 points Friday at 10,877.51. For the week, the benchmark index fell 0.5%.
Click here to read article.
for objective Elliott Wave Theory analysis covering the Major U.S. indexes go to www.shepwave.com
Last Update: 12:01 AM ET Dec. 3, 2005 [ Page 1 | 2 ]
Disable MW live quotes | E-mail it | Print | Discuss | Alert | Reprint |
SAN FRANCISCO (MarketWatch) - Investors will face new economic reports on productivity and consumer sentiment in the week ahead as they puzzle over whether the market's rally is running out of steam.
EARNINGSWATCH
Noven, Disney, Clear Channel
Stocks seen continuing mixed performance
The week's top news and analysis, Nov. 28-Dec. 2
Atwood Oceanics quarterly earnings jump; tax refund received
Free! Sign up here to receive our Real Estate Weekly e-Newsletter!
TRADING CENTER
TRACK THESE TOPICS
My Portfolio Alerts
Index: Dow Jones Industrial Average Add
Create
Column: Market Snapshot
Create
Index: S&P 500 Index Add
Create
Index: Nasdaq Composite Index Add
Create
Get breaking news sent directly to your in-box
Edit My Portfolio | Edit Alerts
The week's comparatively light dose of economic data, which also includes November's ISM non-manufacturing index, is unlikely to reverse optimism over healthy economic reports last week.
But despite the economy's solid growth, Wall Street's indexes turned in a mixed performance for the week just ended and some investors wondered whether any more money remains to push the benchmarks higher.
"We've reached new highs on most of the market averages and the question for me is where is the money going to come from to push the market considerably higher?" said Kenneth Tower, chief market strategist at CyberTrader.
"I don't see it, frankly. The stock market has gone up for 3 years now, anyone who hasn't invested yet, I don't see what's going to push them in now," he said.
"It's hard to come up with a scenario where a lot of money on the sidelines goes into stocks."
The Dow Jones Industrial Average ($INDU:
$INDU
News, chart, profile
Last:
Add to portfolio
Analyst
Create alertInsider
Discuss
FinancialsMore $INDU$INDU, , ) , which jumped more than 100 points Thursday, ended down 35.06 points Friday at 10,877.51. For the week, the benchmark index fell 0.5%.
Click here to read article.
for objective Elliott Wave Theory analysis covering the Major U.S. indexes go to www.shepwave.com
