Monday September 7, 2009 15:39
Stocks brace for September
Many were optimistic that the stocks rally over the past months are one of the real signs that a recovery is very much in sight. However, the market was mixed last August and indexes reflected drops to open up the month’s trading.
September is known to be one of the toughest months of trading. Typically, all indexes post percentage losses during this whole back-to-work and back-to-school season. September of last year saw thing go from bad to worse like the collapse of Fannie Mae, Freddie Mac, Lehman Bros. and Merill Lynch. It also recorded the massive beating of the Dow.
This week, quite a lot of data will be factored in to the trading. Monday’s Labor Day so trading is closed. The July Consumer Credit report from the Fed is due Tuesday. On Wednesday, reports on housing, crude oil inventory and the economic survey from the Fed are also expected. Thursday would see the weekly jobless claims report from the Labor Department. The on wholesale inventories will be released Friday.
These are all critical data that would reflect whether or not the rally would be sustained. Better-than-expected results have been enough to encourage investors in the previous months but analysts anticipate a more conservative attitude for the month.
Source: CNN
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Tags: Investments, Stocks, Wall Street