Macroeconomics drives everything. I am reading Warren Buffett's new book "Tap Dancing to Work" and he is fond of saying a fantastic manager cannot do much with a lousy business. That is true, I believe, of the macro economy as well. It sets the field of play and in that business, this week is a big one. Watch out for:
Monday: Durable Goods Reporting
Tuesday: Consumer confidence
Wednesday: First estimate of Q42012 GDP and statement by the FOMC
Thursday: Wages and Personal Income
Friday: Construction Spending, Employment and Manufacturing activity.
Let's hope for a great week! Good luck.