Stocks were surprisingly resilient after the lousy July jobs report was released on Friday. While share prices did take an early tumble, they came back nicely to close only slightly down. Now, with the report behind us and earnings season just about over, what will drive the market in the week ahead?

Fact is, no really significant economic reports are due out, though Ben Bernanke and the Fed Open Market Committee will be meeting on Tuesday to determine monetary policy, which could always move the market, especially if the
Fed decides to redouble any efforts to support the struggling economy. While Bernanke & Co. is likely to keep interest rates low for some time, it could begin to lay a foundation for further easing to help jump-start the economy.

Alan Valdes of DME Securities says the July employment report could come back to haunt the market this week, adding that it looks like August could be a slow to down month for investors. The reason: jobs. Not only are companies not hiring but people who are working aren't working long-enough hours, according to Valdes.

"If you look back in history to the 1920s and 1930s, it's always about jobs," says Valdes. So to get this economy moving again, we will need to see growth in the job market and in productivity as well. For more on what to expect in the market this week, see the short video below.

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Paul R.Antioco

Sure, they're all on vacation this month spending

August 09 2010 at 12:49 PM Report abuse +1 rate up rate down Reply

imho this is a very soft might as well say August will be a hot month for Americans, point being I can't remember a time when August WASNT a slack month for stocks, barring some major calamity.

August 09 2010 at 5:05 AM Report abuse +1 rate up rate down Reply

the overall markets will be flat with some sectors having strength.... European banks like IRE and semiconductors will see gains.... In Sept, everyone is going to start loading up on anticipation of the Republicans coming in Congress to fix everything... The Crypt Keeper has sent her last Amelia Earhart scarf into space on the tax payer's dime.. Once the Republicans are back on the purse strings, banks will start lending, the health care nonsense will be repealed, and good times will resume in America... So get out and vote for a economic recovery by choosing Republican in your area... if the Democraps continue to run all houses of government, the banks will wait another 2 years to lend as no one trusts the democratic communists and their rob the rich to give to the lazy poor BS... All large businesses are international now.. Especially banks... It is nothing for them to go work the Australian or European continents while America sorts out it's political house... So if you want to see your business grow or you want to work for a paycheck... vote accordingly... say what you want about Bush... people had jobs and his spending was mailing you a $300 check... Obama isn't mailing out any checks... just bills...

August 09 2010 at 4:00 AM Report abuse -2 rate up rate down Reply

Before we can hire workers we have to increaze alternate energy we need to hire workers to use it... YOu see?

August 09 2010 at 12:49 AM Report abuse rate up rate down Reply
1 reply to Gumby's comment

go smoke some more wacky tobackee, Wavy Gravy

August 09 2010 at 4:02 AM Report abuse -1 rate up rate down Reply