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MarketWatch.com MARKET SNAPSHOT Stocks face new economic views
by ShepWave.com
Posted: 12/3/2005 19:50 EST
MARKET SNAPSHOT
Stocks face new economic views Data on productivity, sentiment due in week ahead
By Jasmina Kelemen, MarketWatch Last Update: 12:01 AM ET Dec. 3, 2005 [ Page 1 | 2 ]
SAN FRANCISCO (MarketWatch) - Investors will face new economic reports on productivity and consumer sentiment in the week ahead as they puzzle over whether the market's rally is running out of steam.
The week's comparatively light dose of economic data, which also includes November's ISM non-manufacturing index, is unlikely to reverse optimism over healthy economic reports last week.
But despite the economy's solid growth, Wall Street's indexes turned in a mixed performance for the week just ended and some investors wondered whether any more money remains to push the benchmarks higher.
"We've reached new highs on most of the market averages and the question for me is where is the money going to come from to push the market considerably higher?" said Kenneth Tower, chief market strategist at CyberTrader.
"I don't see it, frankly. The stock market has gone up for 3 years now, anyone who hasn't invested yet, I don't see what's going to push them in now," he said.
"It's hard to come up with a scenario where a lot of money on the sidelines goes into stocks."
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