The Week Ahead: Treasury Auctions, Housing Data, Durable Goods, GDP

Eight trading days have passed since the Dow crossed 10,000 for the first time in over a year. Yet mixed data and third-quarter earnings since then have caused equities to dance around the psychological threshold. On Friday the Dow closed at 9,972; heading into the week futures are pointing slightly upwards. Wall Street is looking for Q3 GDP to climb 3% in Thursday’s release. If that’s the case the markets could gain enough momentum to stop the dance and remain steady in five-digits. However, consumer sentiment, flat wages, and weak spending could all bring stocks down. And that’s not even mentioning the perennial concerns of the jobs market......( read more )