It’s going to be a light volume week but it is not a light data week so hold onto your hats as we have a lot of catching up to do! We got the disastrous Existing Home Sales report on Monday but we get Fed Minutes today at 2pm along with ISM and Construction Spending after the bell at 10.
Tomorrow we see Auto Sales, ADP Employment, Jobless Claims and Factory Orders. Friday we get Nonfarm Payrolls, Unemployment, Hourly Earnings and ISM Services. Next week we get Pending Home Sales and Consumer Credit on Tuesday, both of which are likely to be scary. We get Wholesale Inventories next Wednesday and Thursday is trade day with Import and Export Prices along with the balance of trade followed by what promises to be a bloated budget report for December. All in all, I’m not seeing a lot to rally around but expiration week will give us Retail Sales, PPI and CPI which we have very low expectations for so things could get very interesting on the 15th.
