Looking Ahead to Thursday's MarketAugust 29, 2012 @ 4:37 PM EST
Quick Recap of Wednesday’s Session:
Stocks finished slightly higher on Wednesday in another quiet session of trading. Major indices started the day marginally higher following a slightly better than expected Q2 US GDP revision, which came in at +1.7%. Much like Tuesday’s session, trading was choppy throughout the morning, with relatively heavy selling early on. Stocks would recover and rally throughout the early afternoon, only to selloff for the final 2 hours of the session to finish nearly flat, but still in positive territory.
S&P 500 +0.08%, NASDAQ +0.13%, DJIA +0.03%, Midcaps +0.13%.
Looking Ahead to Thursday:
- Overnight we get a handful of economic data from Europe: PPI from Spain, Unemployment from Germany, Mortgage Approvals from the U.K., Business Confidence from Italy, Industrial Production
and Retail Sales from Portugal, and Consumer Confidence, Sentiment, and Business Climate from the Eurozone.
- Before the bell here in the U.S. is Weekly Jobless Claims, Personal Consumption & Income, and Core PCE.
- Shortly after the open is the Bloomberg Consumer Comfort index reading at 9:45am EST.
- Wednesday was quiet, and Thursday doesn’t look to be too much different. Traders are still holding their breath ahead of Ben Bernanke’s speech in Jackson Hole on Friday. Many anticipate the Fed Chairman to outline plans for additional easing, while others are suggesting that he doesn’t mention anything QE3-related. Whatever the case, Thursday’s session shouldn’t be too crazy ahead of what could be a volatile end to the week.
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