With a Fed-less Week Ahead, Markets Will Be on Their Own

by Rick Ackerman

The markets have opened quietly Sunday evening, continuing their recent, respective trends with mincing steps. The dollar is up, bullion has inched lower, T-Bonds are down and crude is in a dirge. The big news event of the week will be retail sales data due out Friday, and mortgage applications on Wednesday morning. With nothing coming from the Fed, however, we’ll get to see how stocks, bonds and commodities act ‘on their own’. My guess is that it will be a pretty dull week. The Dow, which settled Friday at 18543, will have a shot at 19061, but that would be the very best I could see, and I doubt whether the blue chip average will be able to sustain that altitude for long if it gets there.

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