Better than expected economic news in form of strong home sales and benign inflation figures helped lift stocks to new highs. Energy and technology shares led markets higher as Intel (INTC) rose 4% and commodity prices stabilized. Six of the ten sectors of the S&P were lower, as performance divergence continued to rise.
There is little in terms of economic news being released on Friday, although the Kansas City Manufacturing Index figures could impact market direction. As we head into Thanksgiving week, expect lighter volume trading, which often coincides with increased volatility. Make sure to tune into Fox Business on Tuesday evening at 6:00 PM when our President, Oliver Pursche, joins Charles Payne for the full hour to discuss our year end outlook as well as how we’re position portfolios for 2015. And don’t miss Oliver on Wednesday afternoon at 3:45 PM on CNBC when he joins Kelly Evans and Bill Griffith from the floor of the New York Stock Exchange. Money Matters with Gary Goldberg will air on Sunday at 11:00 AM only this weekend on WOR 710 AM Radio, so tune in to hear a detailed discussion of year-end planning and portfolio changes you should consider. Visit www.ggfs.com for details.
Next Week’s Market Moving Events:
- Monday: Chicago Fed National Activity Index, PMI Services Flash PMI, Dallas Fed Manufacturing Survey, Bank of Japan Meeting Minutes
- Tuesday: German GDP is reported overnight, followed by a second look at third quarter GDP in the US at 8:30 AM. Corporate profit, US Redbook, House Prices and Consumer Confidence are also released.
- Wednesday: Pending Home Sales, Durable Goods Orders, Jobless Claims, Income and Spending figures as well as Petroleum (Oil) Reserves data
- Thursday: Happy Thanksgiving – the ECB begins its two day meeting, Japanese CPI and Employment data
- Friday: Chicago PMI at 9:45, Markets close at 1:00 PM EST
- Sunday: Chinese Manufacturing data, Japanese PMI Manufacturing