On Friday, investors will also be looking for data on retail sales. [Stock ETFs Try To Break Free of Trading Range]
“As we approach the shoulder of the holiday season, there is some positive movement in retail,” Ed Farrell, director of the Consumer Reports National Research Center, said, on Financial Planning. “However, a strong holiday season will depend on consumers having clear signs that the economy is on the mend, which to this point has been lacking. Weak employment, financial difficulties, and poor confidence overall continue to present a powerful headwind for holiday sales.”
Some contrarian investors see the pessimism as a reason to buy stocks. Sentiment is low enough to be encouraging, Ned Davis Research, an institutional investment advisor, noted earlier last month, reports USA Today.
SPDR S&P 500
Tisha Guerrero contributed to this article.
Full disclosure: Tom Lydon’s clients own SPY.