Last week was a downer to say the least. Recent unemployment data has pointed to the fact that the Federal Reserve may finally be getting ready to raise interest rates. It’s been the common theme for weeks now, but expectations are high that they will.
And that could continue to play out this week—especially since we’ll see the release of the last FOMC meetings minutes. Any leaning, either way,in the report could send the markets surging or plummeting. Also building the pressure is various inflation-related data which will go into the Fed’s next meeting in December. Add in building permits, unemployment data and various manufacturing metrics and we could be looking at another down or volatile week.
On the earnings front, it’ll be all about the consumer as the vast bulk of the firms reporting earnings this week are retailers.