Wall Street Ended Mixed As Market Set Eyes On Data
US shares ended mixed with the Dow Jones Industrial Average settled at 10,213.62 or 0.56% lower while S&P 500 index fell 3.94 points to 1,071.69. Tech-laden Nasdaq Composite however, gained 0.04%, ending the week at 2,179.76.
Yahoo! was rated at UNDERPERFORM by Wedbush Morgan. Yahoo! fell 0.43% to $13.79 at the end of the day. Tech-giant Hewlett-Packard fell 2.2% to $39.85, as Morgan Stanley revised its target price to $56 from $62.
Amid winners and losers on Friday, eBay was on top with 1.03% gains, Adobe Systems at 0.83% gains, and Goldman Sachs with a gain of 0.81%. Advanced Micro Devices slumped at the bottom as it fell 2.65%, Halliburton slipped 2.59%, and Hewlett-Packard lost 2.23%.
Week Ahead
Lack of catalysts set the market’s attention to next week’s data such as existing home sales and new home sales, durable goods orders, consumer sentiment, and most importantly, GDP revision. Jobless claims will be under scrutiny as well as the market worries are growing after the latest claims figure hitting 500k.
Existing home sales is expected to fall 12.9% from prior month, or to 4.68 million from 5.37 million units according to Bloomberg survey. Marketwatch forecast a drop to 4.78 million in July sales. New home sales are expected to rise from 330,000 to 339,000 at Marketwatch but Bloomberg survey sees no change in July. Durable goods orders are expected to have recovered from a 1% drop in July and rose by 2.5%. Consumer Confidence released by the University of Michigan is seen to have stayed steady at 69.6 in August at Bloomberg, but Marketwatch consensus saw the index at 68.5.
Key pieces of economic data due next week are the jobless claims which hit 500k last week and GDP for 2Q 2010. Claims are seen to have eased to around 491k to 495k, while GDP revision is seen at 1.4% after the preliminary estimate of 2.4%.
US shares ended mixed with the Dow Jones Industrial Average settled at 10,213.62 or 0.56% lower while S&P 500 index fell 3.94 points to 1,071.69. Tech-laden Nasdaq Composite however, gained 0.04%, ending the week at 2,179.76.
Yahoo! was rated at UNDERPERFORM by Wedbush Morgan. Yahoo! fell 0.43% to $13.79 at the end of the day. Tech-giant Hewlett-Packard fell 2.2% to $39.85, as Morgan Stanley revised its target price to $56 from $62.
Amid winners and losers on Friday, eBay was on top with 1.03% gains, Adobe Systems at 0.83% gains, and Goldman Sachs with a gain of 0.81%. Advanced Micro Devices slumped at the bottom as it fell 2.65%, Halliburton slipped 2.59%, and Hewlett-Packard lost 2.23%.
Week Ahead
Lack of catalysts set the market’s attention to next week’s data such as existing home sales and new home sales, durable goods orders, consumer sentiment, and most importantly, GDP revision. Jobless claims will be under scrutiny as well as the market worries are growing after the latest claims figure hitting 500k.
Existing home sales is expected to fall 12.9% from prior month, or to 4.68 million from 5.37 million units according to Bloomberg survey. Marketwatch forecast a drop to 4.78 million in July sales. New home sales are expected to rise from 330,000 to 339,000 at Marketwatch but Bloomberg survey sees no change in July. Durable goods orders are expected to have recovered from a 1% drop in July and rose by 2.5%. Consumer Confidence released by the University of Michigan is seen to have stayed steady at 69.6 in August at Bloomberg, but Marketwatch consensus saw the index at 68.5.
Key pieces of economic data due next week are the jobless claims which hit 500k last week and GDP for 2Q 2010. Claims are seen to have eased to around 491k to 495k, while GDP revision is seen at 1.4% after the preliminary estimate of 2.4%.
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