The Week Ahead...

Following last week's heavy run of news culminating in Friday's solid employment report, the pace of this week's calendar slows. Market-moving data don't appear until Thursday with jobless claims which, fortunately, have been very low. Also on Thursday will be export & import prices which, unfortunately in this case, have also been very low. Producer prices, where service prices have been surprisingly weak, will be posted on Friday, a day when the headline report, however, will be retail sales. Perhaps held down by softening consumer sentiment, retail sales have not been building much momentum and November's data will offer the first indications on the holiday mood. Moderate gains are expected. The early December reading on consumer sentiment, which came down markedly in late November, will also be posted on Friday.