Week Ahead: Dow Jones Industrial Average 2 Minute (INDEXDJX:DJI), S&P 500 (INDEXSP:INX) And NASDAQ Composite (INDEXNASDAQ:IXIC) Look Towards Economic Data For Direction

Week Ahead: Dow Jones Industrial Average 2 Minute (INDEXDJX:DJI), S&P 500 (INDEXSP:INX) And NASDAQ Composite (INDEXNASDAQ:IXIC) Look Towards Economic Data For Direction

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Dow Jones Industrial Average 2 Minute (INDEXDJX:DJI), S&P 500 (INDEXSP:INX) And NASDAQ Composite (INDEXNASDAQ:IXIC) have closed the week ended May 12 on a mixed note. While the Dow Jones and the S&P 500 shed 0.53 percent and 0.35 percent respectively, the Nasdaq managed to gain 0.34 percent. There was not much support from the earnings side to boost sentiments.

In the upcoming weeks too, it is quite likely that the Nasdaq could outperform as companies like Cisco Systems, Inc. (NASDAQ:CSCO), Applied Materials, Inc. (NASDAQ:AMAT) and Autodesk, Inc. (NASDAQ:ADSK) are reporting their earnings number. Given the retailers’ announcement of a revenue miss last week, investors’ are not expecting much from the segment though Wal-Mart Stores Inc (NYSE:WM) could offer some solace.

Therefore, it would be the economic data that should allow the two indices to be dictated though there is nothing big to be expected from the economic side too. Among the key data are housing starts, building permits, industrial production and initial claims could be watched. In any case, it is quite likely that the market could struggle to post any significant gains.

The following economic data will be released this week:

  • Net long-term TIC flows for May will be released.
  • Empire manufacturing for May would be disclosed.
  • On Tuesday, Capacity utilization for April will be revealed.
  • Industrial production data for April will be announced.
  • Building permits for April will be released.
  • Housing starts for April will be disclosed.
  • On Wednesday, Crude inventories for the week ended May 13 will be announced.
  • MBA Mortgage Applications index for the week ended May 13 will be revealed.
  • On Thursday, Natural gas inventories for the week ended May 13 will be released.
  • Leading indicators for April will be announced.
  • Continuing claims for the week ended May 6 will be disclosed.
  • Initial claims for the week ended May 13 will be revealed.