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October 31, 2005

Econ reports to ensure ‘attitude adjustment', Mon., Oct. 31, 2005, 9:21 AM

This will be the biggest week of the month for economic data coming out of the U.S. Experienced traders will be watching for nuances (not spin) in the inflation data. The present attempt to spin the equity market into a year-end rally will be conditioned somewhat by the realities brought forward in the economic data this week.

I suspect that by the weekend the Bulls in both the equity and bond camps will be looking for help. And I'll be there to turn the knife.

Overnight markets in Asia Pacific were extremely hot, but that move appears to be a reaction to Friday's hyped-up U.S. market. In Japan, there was a spate of very positive earnings announcements in the past couple days, but local analysts are concerned that the next six months results will be quite far off trend, if the recent guidance proves out.

Posted by Posted by Bill Cara on October 31, 2005 09:12:46 AM | Category: Cara Today in the Market , Economics