Sunday, October 25, 2009

Coming week Stock Market: What to look for?

There is news coming out this week which most likely will move the market. Scheduled to be released are the following new items listed by potentially creating the most market impact:

Third Qtr GDP numbers - Thursday. (Analysts expect 3.1% GDP)
Weekly jobless Claims - Thursday.
Consumer Confidence for October - Tuesday
Durable Goods Orders for October - Tuesday

Many S&P companies will report this week and a partial list is noted below:

Verizon - on Monday
Corning - on Monday
Visa - on Tuesday
U.S. Steel - on Tuesday
Coca-Cola - on Wednesday
GlaxoSmithKline - on Wednesday
Exxon Mobile - on Thursday
Proctor & Gamble - on Thursday
Kellogg - on Thursday
Colgate-Palmolive - on Thursday
Deutsche Bank - on Thursday
Sony - on Friday
Panasonic - on Friday
Duke Energy - on Friday
Cummins Engine - on Friday
Chevron - on Friday

A little mentioned poll by CNN came out last week that I thought should have gotten more press but didn't because there are many advocates for keeping one's head in the sand so you can't see that the recovery isn't recovering as the Fed and Bernanke has said. You look at the data and tell me if you think it is going in the right direction. Here's the poll question:

People were asked if they agreed with this statement: "Economic conditions are very poor."

Here's the response over time they asked the question:

Oct. 42%
Aug. 35%
Jun. 41%
Mar. 48%
Dec. 66%

The poll was conducted by CNN's Opinion Research group and has a plus or minus 3% sampling error.

Looks to me that we have taken a step backwards with 42%.

And here's something on a personal note. If you have a First Aid kit for emergencies, make sure you buy this new product and add it to your kit. It's called "QuikClot and is made by Z-Medica. It is a Gauze which stops the bleeding on very bad wounds. The military uses it and it has helped saved many lives. Here's a link to their web site. I have no financial interest in the company or the product but you know if you have been reading here for a while that I am CERT trained and a first responder so this is placed here as a public service announcement. Thanks

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