MarketBeat: Week in Review 10/12 –10/16. Top UK bishops slam 'disastrous' bill as Brexit talks teeter. 3 Beaten Down Stocks On The Cusp Of A Major Reversal.
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Monday, October 19th |
Good Morning The broad market ended a mixed week with a whimper closing with nearly no gain or loss for the day. The action was at once buoyed by a stronger than expected retail sales figure and hampered by fear the economic rebound will falter without additional stimulus. Regarding retail sales, total sales of retail items jumped 1.9% in September versus the expected 0.7%. The data shows underlying momentum within the consumer and points to a solid holiday shopping season. Next week, the market will be looking for a raft of earnings. The peak of earnings season is upon us so we can expect more volatility over the next few weeks. Looking to the economic calendar, traders will be focusing on the housing sector, the FOMC's Beige Book, and flash PMI readings on the manufacturing and service economies. Any data or earnings that point to weakness is sure to spark volatility and selling in the market. |
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