Analysts said the economic reports confirmed weak housing and a struggling economy. Many forecasters are looking ahead to next Friday's January jobless data with much trepidation. "There's a continuing drumbeat of layoff announcements every day. Everyone is bracing for a bad one," said Jack Ablin, chief investment officer at Harris Private Bank.
Friday's economic line-up includes fourth quarter gross domestic product and employment cost index figures, both due at 8:30 a.m. The Chicago purchasing managers index for January is due at 9:45 a.m. and consumer sentiment data for January is due at 10 a.m. All times are Eastern.
Economists at Tullett Prebon G7 Economics said the market could get an unexpected shock from GDP data. "The economist consensus has already 'discounted' a 5.5% decline in annualized Q4 GDP growth, which would mark a sharp deterioration versus the previous quarter's contraction of 0.5% and the weakest reading since 1982. However, the risk is that the consensus might not prove bearish enough," they said in a note to investors.
normal klar bear - abba wat is in heutigen zeiten schon normal !?! !!
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