Turkeys for ThanksgivingBy the time this week is over, investors may be most thankful for the fact that at least it was short. The market is closed for Thanksgiving and will log just a half-day on Black Friday, but from today through Wednesday, traders will be contending with a heavy slate of economic data and earnings news.

The Dow Jones Industrial Average ($INDU) eked out a gain last week to break a slide going back to Nov. 5, but stocks did so in gut-wrenching fashion. The blue-chip average and S&P 500 ($INX) suffered their biggest one-day meltdowns in three months months before staging a comeback.

Fortunately for the bulls, at least one major anxiety afflicting recent trading should get a rest for a while. Ireland formally agreed to accept a financial rescue package from the European Union and International Monetary Fund. Anticipation of such a move has been lifting the euro and weighing on the dollar. As we've seen for months, when the dollar goes down, stocks and commodities rise. So, a weaker greenback bodes well for equities this week.

Big-Name Earnings Still on Tap

Less predictable is how the market will handle economic news here at home. Now that traders have digested China's latest move to curb inflation and the Ireland debt drama is winding down, this week's raft of data will be in focus. In the days ahead we'll get new- and existing-home sales, Fed meeting minutes, personal income and spending, revised third-quarter gross domestic product, durable goods order, jobless claims and plenty more.

And if that weren't enough generate a little short-term volatility, earnings season is all but over, and yet some big-name earnings are still on tap. Tech bellwether and Dow stock Hewlett-Packard (HPQ), heavy-equipment maker Deere (DE) and luxury retailer Tiffany (TIF) are just a few of the companies set to report this week. And, of course, Friday kicks off the holiday selling season, with all its implications for consumer spending.

Lastly, the upcoming holiday means trading volume is likely to be low, which tends to amplify market swings. Don't be surprised if this Thanksgiving-shortened trading week leaves investors feeling quite full.

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JonesEngineering

How much government do you want? How about they tell you what you can and can not buy to eat? Like that one? It is already happening. How about a sick education system that teaches sex ed to serious minors...like 8 years old. Like that one? It is happening. We need government out of our schools. I resent the government run death panels. Remember Soyues Green> They are back.

November 25 2010 at 5:44 AM Report abuse rate up rate down Reply
hey ronnie

Reagan campaigned on 'too much regulation" his entire career. And when he took office, he disbanded many of the protections put in place after the stock market crash of 1929. What he didn't rescind, his buddies Phil Gramm, Jake Garn, and Jack Kemp wrote out of the bills he got passed in the Republican congresses. All of this financial ruin is solely the responsibility of the Republican Party.And Bush carried the ball from there.Allrepublicans should go to jail.The

November 24 2010 at 4:58 PM Report abuse rate up rate down Reply
hey ronnie

Reagan campaigned on 'too much regulation" his entire career. And when he took office, he disbanded many of the protections put in place after the stock market crash of 1929. What he didn't rescind, his buddies Phil Gramm, Jake Garn, and Jack Kemp wrote out of the bills he got passed in the Republican congresses. All of this financial ruin is solely the responsibility of the Republican Party.And Bush carried the ball from there.Allrepublicans should go to jail.The

November 24 2010 at 4:58 PM Report abuse rate up rate down Reply
bdyftns

You may see a tremendous selloff by Corporate CEO's and executives in December to take advantage of the Bush tax cuts, if there is any thought of raising taxes for those who make over $250,000 a year, it will devestate the market. 401k's will hit rock bottom. Individual investors will get hit hard. With the economy already on shakey ground, this is that last thing we need to see. Extend the Bush tax cuts or we're all going to pay for it....in a bad way.

November 24 2010 at 1:44 PM Report abuse +2 rate up rate down Reply
crimson00king

Americans we must agree on 1 issue and that is NO TAX BREAKS FOR THE RICH NO EXTENTIONS NO MILLION DOLLAR CUT OFF. People such as the Wallstreet thieves, the drug addicted Hollywood brats, Mel Gibson Charlie Sheen Linsay Lohan Paris Hilton on and on. The Real Housewives of every major city in America flaunting their wealth on T.V. Please take a few mins. of your time and contact the White House your senators and congressmen and tell them NO TAX BREAKS FOR THE RICH they have had them for 10 years. Still no jobs. E- mail or call them please time is running out. Nov. 30 they will meet on the issue.

November 22 2010 at 2:25 PM Report abuse -6 rate up rate down Reply
1 reply to crimson00king's comment
clark8642

Actually there can be no new tax cuts for anyone,rich or poor, until we get our fiscal house in order by making major spending cuts. That will take years IF there is any will to do it. Without the major spending cuts we will need to raise taxes even after the Bush tax cuts have expired if we want to balance our budget.

November 22 2010 at 3:10 PM Report abuse +1 rate up rate down Reply
fedbadge1613

A Marxist for a president could mean more market volitility!

November 22 2010 at 12:31 PM Report abuse +3 rate up rate down Reply
1 reply to fedbadge1613's comment
bdyftns

Since Obama has been in office the market has risen from it's lows of 6,600 to it's present 11,000 +.

November 24 2010 at 1:47 PM Report abuse +1 rate up rate down Reply
Robert & Lisa

With commodity prices having surged over 50% in the past year and unemployment at almost 10%, we obviously have a deep recession with inflation just like the Jimmy Carter years. Ronald Reagan's policies pulled us our of the abyss then, who will do it now? Obama and thugs seem hell bent on keeping us in the abyss.

November 22 2010 at 10:50 AM Report abuse +2 rate up rate down Reply
2 replies to Robert & Lisa's comment
offcenterlevi

Inflation is nonexistent. Deflation is the biggest concern. The GM bailout worked. The company is making large profits and continuing to pay back the government loan. That bailout alone saved millions of jobs at GM and related auto parts industries. The stimulus was too timid, but it too has saved jobs and made things better. The Bush TARP bailout helped some terrible people who with Republican help got us into this mess. Also more conditions should have been imposed on the people who got our money. It was business as usual, though, with the rich taking care of the rich. Without TARP, however, the economy would have gone off a cliff, and many more people would be living on the streets. Obama has relied on too many corporate insiders, been too passive and open to compromise, and has continued too many Bush failed policies, but he certainly is not a thug nor is he trying to keep us in an abyss. People who think there are easy solutions to these grievous problems are living in a dream world.

November 22 2010 at 11:49 AM Report abuse +3 rate up rate down Reply
strayleo

Reagan did it with the credit card, and tripled the National debt. It was his poilicies that Bush was following.

November 24 2010 at 7:34 AM Report abuse -1 rate up rate down Reply
Robert & Lisa

With commodity prices having surged over 50% in the past year and unemployment at almost 10%, we obviously have a deep recession and inflation just like the Jimmy Carter years. Ronald Reagan pulled us our of the abyss then, who will do it now? Obama and thugs seem hell bent on keeping us in the abyss.

November 22 2010 at 10:48 AM Report abuse +3 rate up rate down Reply
madmax821

there a bunch of turkey anyway!

November 22 2010 at 8:21 AM Report abuse +5 rate up rate down Reply