Zacks’ Voice of the People Highlights user inthemoneystocks: “The Weekend May Hold Major Keys” from the People & Picks community.
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The Weekend May Hold Major Keys
While it is highly likely the markets will float neutral to higher next week, the European mess may throw a curve ball into the mix. Ireland is still a mess and it is likely a bailout is the only way to remedy the situation. In addition, the problems in Ireland are starting to spread to other countries.
This is much like what happened with Greece when the panic spread to Spain and Portugal. Today, the SPDR S&P 500 ETF (SPY) is trading at $119.81, -0.15 (-0.12%). After the monster rally yesterday, the markets seem to be consolidating, awaiting the weekend and nervous as to what news may break out of Europe.
Ben Bernanke has started a rigorous defense of his monetary policy to critics all over the world. The Federal Reserve policy of pumping trillions into the U.S. economy continues to fuel fears of major asset bubbles and runaway inflation.
If the weekend remains quiet, watch for a neutral to upside bias next week. POMO and a weak Dollar handled by the Federal Reserve will attempt to keep the markets up into the biggest shopping day of the year, Black Friday. The PowerShares DB US Dollar Index Bullish (UUP) is trading at $22.75, +0.01 (+0.04%).
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