FOR INFLATION WATCHERS, FRIDAY TELLS ALL
That's the day we see numbers for Personal Spending, known as Personal Consumption Expenditures (PCE) and Core PCE, which excludes volatile food and energy. The PCE report is the Fed's favorite inflation gauge, so it will tell us a lot about what they might do going forward. Housing starts and building permits will be important numbers, especially to folks like us. Also key to watch will be Personal Income, which has been doing well, and final Q3 GDP.
In addition, we'll get earnings from the rock 'n rolling financial sector--Goldman Sachs (they've been solid), Morgan Stanley (mostly OK), and Bear Stearns (wobbly).
One thing's for sure. It won't be a quiet week before Christmas!
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