As the markets enter the holiday weekend with light trading, Rich Berg, CEO of Performance Trust Capital Partners; Robert Heller, managing director of Chapdelaine Brokerage; and Ray Carbone of Paramount Options discuss how the markets will move in the upcoming week.
The credit markets remain nervous because there's only one key buyer affecting prices, Berg said.
"There is not a lot of real buying apart from the US Treasury," he said. "Every time we have these auctions, we all hold our breath hoping that the buying comes through."
Heller will be watching technical levels after the holiday and said the S&P will likely stay around the same level.
"I think we're about stagnated here," he said.
The weaker dollar and a run in the stock market set oil up for a run Friday, but it remained flat. Next week's OPEC meeting likely won't affect prices much either, Carbone said.
"We're at the bottom end of our trading range over the last few weeks, maybe we're going to test a little bit of that bottom end," he said.
Friday Dow Gainers:
Bank of America
Disclosure information was not available for Berg, Heller, Carbone or their companies.