Markets will take in a heavy helping of economic reports in the shortened Thanksgiving holiday week, but the main course remains the dollar.
In the past week, the dollar gained some traction as stocks were mixed and Treasurys saw a rush of buyers. Commodities finished the week mostly higher. Economic headlines in the week ahead include important real estate data, durable goods, revisions to third quarter GDP and weekly jobless claims. There are also $119 billion in Treasury notes and billions more in bills up for auction in the first three days of the week.
"With Thanksgiving, people are showing a little bit of indifference toward the market...It's indicative that there's not going to be a lot of movement over the next couple of days," said Patrick Kernan, who trades S&P 500 options at the Chicago Board Options Exchange.
Markets are closed Thanksgiving and Friday is a shortened trading day.
"I don't think people are looking for a big leg up after this, at least into the end of the year. I certainly don't see us being above 1150 before the end of this year," he said. "I would say between 1025 and 1100 at the end of the year."Page 1 of 6 | Next Page