European Debt Crisis Continued Cause for Concern
So in the week ahead on Wall Street, investors will no doubt be paying close attention to the European debt crisis, while at the same time taking full advantage of Operation Twist, which is reportedly being seen by traders and analysts as a renewed attempt to assist homeowners by means of lower mortgage rates, and a break away from previous policies put in place to pump up global financial asset prices through a weaker dollar. Last week closed with the Dow Jones down 6.4 percent, with the S&P 500 down 6.5 percent and the NASDAQ down 5.6 percent.
Monday on Wall Street includes August figures for new home sales, while the Case-Shiller 20-city home price index is due Tuesday morning. Also on Tuesday is the July consumer confidence index for July from the Conference Board, as well as quarterly results from Walgreens (NYSE: WAG). Wednesday includes the durable goods report from the US government, as well as quarterly earnings from Family Dollar (NYSE:FDO). Thursday sees the release of the third and final reading on economic growth for the second quarters, with the Labor Department’s weekly jobless claims numbers due before the day’s opening bell. The pending home sales report for July is due from the National Association of Realtors on Thursday. A government report detailing personal income and spending is due on Friday before the opening bell, with the Chicago PMI due after the bell. The final reading on consumer sentiment for September will be released by the University of Michigan after the market opens.