Sunday, January 28, 2007

Weekly look ahead

Well, I'm back from my whirlwind trip visiting companies in the midwest. I have to say I saw some surprising things. It looks like construction and housing markets have farther to fall but that many industrial companies are enthusiastic and on an upswing. The consumer has been mixed, and it's not clear where spending is headed.

The upcoming week is completely packed with news. There's a Fed policy meeting, a monthly jobs report and earnings from a quarter of the 500 largest publicly-traded companies. There is also a huge pile of economic reports coming out.

Weeks like this have so much news that they actually help monitor the markets overall mood. There is so much for investors to grab onto to justify movement either up or down that the direction the market goes is actually a pretty good idea what the crowd it thinking.

I don't expect the Fed to budge (not for a while actually), they have solid information that the economy is growing and yet inflation is tame - they won't want to mess with that.

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