Wall Street Bracing for Data Dump
Even though market activity is subdued this week due to Thanksgiving, tomorrow, analysts and investors are still strapping in to withstand the mountain of economic data to be dumped on them today. Along with the weekly initial jobless claims, today also will bring the University of Michigan’s consumer sentiment and mortgage applications survey, the U.S. durable goods orders report for October and November’s Purchasing Managers Index (PMI) score. Even with moderate expectations for the durable goods and PMI figures, analysts don’t believe there will be much negative feedback from investors. Not with all of that holiday cheer ready to leak out.