Stocks could continue to be volatile in the coming week, with investors looking for signs the market is trying to find a bottom. The S&P 500 temporarily fell into bear market levels Friday, but the market pulled back from its lows and did not close there.
There are a slew of retailers reporting earnings in the coming week, including Costco, Best Buy and Nordstrom. High profile earning misses from Target and Walmart set a sour tone in the past week, so the reports from other retailers could be key. "It will be absolutely vital for the broad market to respond in a positive fashion to whatever those retailers report." said one strategist. The health of the stock market is also directly tied to the perception of how the economy is faring, so data will be important. There is personal consumption expenditure data, which includes insight on spending and incomes, as well as the inflation index watched most closely the Federal Reserve. There are also durable goods and minutes from the Federal Reserve’s last meeting. |
