Wall Street will resume watch on inflation & retail earnings with chief focus on consumer & producer prices that are set for release.
Investors may also begin making their holiday checklists as US retailers plan to announce their Q3 results this week, reports Business Week on November 12 2006.
Analysts believe it is fine for investors to be optimistic as elections are over. Decline in gas costs & low unemployment will boost consumer spending.
"As oil & gasoline costs have declined, PPI (Producer Price Index) & CPI (Consumer Price Index) are likely to come down as well," said an analyst at RNCOS.
"And as Donald Rumsfeld is no longer US Defense Secretary, there's hope that things will become better," said Thrivent Financial's Scott Vergin.
Retail reports like Department of Commerce's monthly report on retail sales will hold the key as around 66 % of growth in economy is dependent on consumers and results of top American retailers.
Investors are optimistic that the reports & PPI reading, measuring wholesale good costs, will show that the economy is slowing enough to prompt Fed to slash interim interest rates. Central bank's interest rates were unchanged at 17 %.
Investors are generally anxious for latest economic figures as they attempt to examine whether Fed, as per market observers, have went too far in trying to limit inflation & have slowed down the economy very quickly.
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