There will be a thinly traded market during the holiday week with a light package of data releases, Prudential’s Chief Market Strategist Quincy Krosby said Tuesday in her weekly “Connecting the Dots” outlook.
The share price of Apple may move as reports are coming in that holiday sales were below consensus estimates, she said.
The week after Christmas means there will be low volume, and that headlines can skew the market in either direction, Krosby said.
“This is one of the most thinly traded times of the year,” she said. “It’s important to be careful and understand that this is not necessarily a projection of where the market will be when we come back to fully staffed trading desks globally.”
Further, there is little in the way of economic data releases that would move the market significantly, she said.
This week’s data releases:
- Tuesday: Case-Shiller home prices; consumer confidence
- Wednesday: Pending home sales
- Thursday: Chicago PMI
HAPPY NEW YEAR!
Read Quincy Krosby’s full Q1 Market Commentary: Turning the Page.
The views and opinions are those of the author at the time of publication and are subject to change at any time due to market or economic conditions. This is solely for informational purposes. This is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy.