Europe, Jobs Could Weigh On Stocks This Week
Europe, Jobs Could Weigh On Stocks This Week Retail sales, consumer sentiment reports should give clues to spending
By Caroline Valetkevitch
NEW YORK - U.S. stocks could face further pressure next week unless investors get some relief from worries about Europe, jobs and the toll they might take on the economic recovery.
Reports on retail sales and consumer sentiment, both of which should offer clues on the outlook for spending, are among the coming week’s major economic indicators. Also on tap will be international trade data.
The impact of BP’s massive Gulf Coast oil spill on the environment and the energy industry also is likely to stay in focus, with moves to contain the spill so far having failed.
The three major U.S. stock indexes sank Friday, with the Standard & Poor’s 500 index suffering its worst percentage drop since May 20 after a disappointing U.S. jobs report and fresh concerns that the European debt crisis was spreading.
(Excerpt) Read more at msnbc.msn.com
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Consumer spending ??? Yeah,right. I’ve only been back to work for a month, and I’m still trying to get caught up on bills. I don’t have extra for “consumer spending”.
Just when you thought we hit rock bottom, someone threw the buffoon a shovel.