If history is a guide, stocks should have a decent day. But Korean tensions and financial woes in Europe may weigh on the markets. The week ahead will be important.
All signs indicate that 2011 will be a turning point, even if the industry isn't quite ready for it.
A shootout in Korea shocks global markets, driving the dollar and gold higher. Oil drops. Existing-home sales fall in October. J. Crew will go private in a $3 billion deal.
The market rebounds from early worries about inflation in China and European debt woes. Salesforce.com shares jump 18% after the company boosts its guidance.
Because of Thanksgiving, it's a short week. But earnings are due from Hewlett-Packard, Deere and Tiffany. Look for key reports on the economy, personal income and housing.
Talk of some price controls in China hits commodity prices hard. Wheat falls 7%. Gold has dropped 6% in a week. GM boosts the size of its IPO. Home Depot and Wal-Mart are winners.
The major averages end the day basically flat but sport decent gains for the month. Earnings misses from Chevron and Merck offset gains for Alcoa and Microsoft. GDP grows at an annualized 2%.
The oil companies have seen profits spike as crude oil and natural gas prices have increased.
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