Week Ahead (5-9/9/2011

Next week will be a relatively light news week for the US. There will be no trading on Monday as it will be the labor day bank holiday. On Tuesday the ISM non-manufacturing PMI (Purchasing Manager’s Index), It's a leading monthly indicator of economic health - businesses react quickly to  market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy; Above 50.0 indicates industry expansion, below indicates contraction. If the actual release is higher than the forecast of 51.3 then the markets should rally. The next major news release comes on Thursday with Unemployment claims and the trade balance. Forecast come in at 409k and –50.3B respectively. Based on Fridays jobs number expect light volume going into the release and bearish bets as well. Also there is the trade balance which will be watched carefully to see whether there was actually a contraction in global trade. Also watch for the ECB press conference on Thursday and any  announcements on austerity measures or new policies to aid Greece or Italy. If there is any significant announcement Wall Street and other  European indices could rally  violently. NEWS Monday: - Tuesday: ISM Non-Manufacturing PMI Wednesday: - Thursday: Unemployment Claims  & Trade Balance Friday: -