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Looking Ahead to Friday's Market

August 23, 2012

by Don Moenning

Quick Recap of Thursday’s Session:

Stocks finished lower on Thursday, marking the Dow Jones’ fourth straight session finishing in negative territory. Major indices opened lower following comments from St. Louis Fed President James Bullard, who said that the FOMC minutes were “a bit stale” and that the probability of more QE was “not as high” as markets expected this summer. Weak flash PMIs from China and Europe and underwhelming economic data here in the U.S. also dampened sentiment. Stocks sold off steadily throughout the day, closing near their intraday lows.

S&P 500 -0.%, NASDAQ -0.%, DJIA -0.%, Midcaps -0.%.

Looking Ahead to Friday:

  • Overnight we get PPI from Spain and GDP from the U.K.
  • Before the bell here in the U.S. is Durable Goods Orders.
  • Tomorrow also marks a meeting between Greek Prime Minister Samaras and Germany’s Merkel in Berlin to negotiate giving Greece more time to meet fiscal targets. With attention shifting back towards Greece throughout this week, the outcome of this meeting could be a market-mover. Merkel allowing more time would likely be a positive for stocks.

     

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