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Investors will be keeping a close eye on the stock market this week for signs of what they can expect in the coming year.
This week, the Associated Press noted that investors are braced for the possibility of a further retreat in stock prices in the coming days, although there is hope that factors like the Obama tax cut/economic stimulus plan and recent stock momentum will be able to result in a rally.
"There's now an estimated $8.9 trillion sitting on the sidelines in cash and money markets," Stephen Leeb of Leeb Capital Management told the AP, adding that "high cash levels and low stock prices go hand in hand."
The report noted that some important things to watch for later this week will include the Labor Department's weekly jobs report, which is reflected to show a drop of 475,000 jobs nationwide for a seven percent November unemployment rate, as well as information on November's auto sales, construction spending and more.
One of the week's financial news highlights is expected to be President-elect Obama's announcement of a $300 billion tax cut to be included in his economic stimulus package.
The New York Times reported Monday that tax cuts are expected to account for about 40 percent of the Obama stimulus plan, both for consumers and for business job creation or equipment investments. The Times added that the overall stimulus package is expected to range between $675 billion and $775 billion.
Investors will watch markets closely for glimpse of '09 trends
Investors will be keeping a close eye on the stock market this week for signs of what they can expect in the coming year. This week, the Associated Press noted that investors are braced for the possibility of a further retreat in stock prices in the coming days, although there is hope that factors like the Obama tax cut/economic stimulus plan and recent stock momentum will be able to result in a rally.
"There's now an estimated $8.9 trillion sitting on the sidelines in cash and money markets," Stephen Leeb of Leeb Capital Management told the AP, adding that "high cash levels and low stock prices go hand in hand."
The report noted that some important things to watch for later this week will include the Labor Department's weekly jobs report, which is reflected to show a drop of 475,000 jobs nationwide for a seven percent November unemployment rate, as well as information on November's auto sales, construction spending and more.
One of the week's financial news highlights is expected to be President-elect Obama's announcement of a $300 billion tax cut to be included in his economic stimulus package.
The New York Times reported Monday that tax cuts are expected to account for about 40 percent of the Obama stimulus plan, both for consumers and for business job creation or equipment investments. The Times added that the overall stimulus package is expected to range between $675 billion and $775 billion.
