Wall St Week Ahead: Stocks face stress tests, earnings, Fed

Fri Apr 24, 2009 11:11pm BST
 
Email | Print | | Single Page
[-] Text [+]

* Caution on bank stress test results to weigh

* Exxon, Pfizer and others due to post results

* Federal Reserve set to hold policy meeting

By Ellis Mnyandu

NEW YORK, April 24 (Reuters) - U.S. stocks may run into some turbulence next week as the impending release of bank "stress test" results, a Federal Reserve meeting and a flood of earnings will give investors some reasons for caution.

While investors have been heartened by a recent flurry of surprisingly upbeat earnings and economic data, strategists said there was still concern about whether the government has done enough to shore up the banking sector.

Besides fretting about bank stress tests, investors also will be confronted by a raft of economic indicators in the coming week. The data menu includes readings on February home prices, April consumer confidence, weekly jobless claims and an advance report on first-quarter real Gross Domestic Product.

The Federal Reserve will be in the spotlight as the central bank's policy-making panel is set to hold a two-day meeting beginning on Tuesday.

"People are looking for positive news out of the stress tests, saying that the banking system is now OK," said Doug Roberts, chief investment strategist at ChannelCapitalResearch.com in Shrewsbury, New Jersey. "I think there could be some rockiness next week."  Continued...

 

Market Update

  • UKUK
  • USUS
  • Europe
  • Asia
  • UK Most Actives

Most Popular Business News on Reuters UK

  • Articles
  • Videos