US Markets Update, What's coming this week?

>> Tuesday, May 26, 2009

U.S Markets were closed on Monday, May 24th 2009, on account of Memorial Day. Due to the upcoming long weekend, markets saw low volumes last week and ended the uncertain week lower, with both Dow and S&P500 reporting weekly losses. Markets were weak also due to fresh warnings that S&P may downgrade the credit rating of U.S and U.K

Dow ended at 8277 down 5.69% for the week.

S&P500 ended at 887 down 1.8% for the week. 

Nasdaq ended at 1692, only index positive for the week.

This week we may see some initial trouble in world markets due to  North Korea's successful Nuclear Test. Other key economic data coming this week, which may influence the markets are: 

May 26, Tuesday: Consumer Confidence data for April will be released. 

May 27, Wednesday: Existing Home Sales data for April will be released.

May 28, Thursday: New Home Sales data for April will be released. 

May 29, Friday: The revised GDP forecast for Q1 will be released. This data is traditionally known to be a Market Mover. 

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