Week Ahead: Improving US Outlook vs European Debt Crisis
Stark says an improvement in corporate spending should help. "What I call more cap ex, as opposed to software and equipment. I think companies are making more capital expenditures and that will push the labor market higher," Stark said. "It's progress but it's not anything to get real excited about. We're still going to need more stimulus in the form of either fiscal programs. QE2 (quantitative easing) needs to stay in place, as long as possible so we can lift these housing numbers."
Housing data expected in the week ahead includes S&P/Case-Shiller home prices Tuesday, and pending home sales on Thursday. Other data Tuesday includes Chicago purchasing managers, and consumer confidence. The ADP private sector employment report; productivity and costs; ISM manufacturing; construction spending and the Fed's beige book are Wednesday.
Monthly auto sales are released Wednesday, and chain stores report monthly sales Thursday. Thursday's data also includes weekly jobless claims. Besides the employment report Friday, ISM non-manufacturing and factory orders are released.
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