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Latest Business News

Will Santa Arrive for Wall Street?

Sunday, November 13, 2005 8:08:20 PM
By MICHAEL J. MARTINEZ

 In a file photo traders move between stations on the floor of the New York Stock Exchange Friday, April 29, 2005.  A continued slide in oil prices gave Wall Street a moderate advance Friday,Nov. 11, 2005.   (AP Photo/Gregory Bull)NEW YORK (AP) - Earnings reports from Wal-Mart Stores Inc. and the latest inflation data are due in the week ahead, and could potentially drive the market toward its long-awaited "Santa Claus" rally.

Or give investors the holiday blues.

With oil prices well below $60 per barrel for the first time in months, inflation and fourth-quarter retail sales remain Wall Street's major preoccupations. High inflation means the Federal Reserve will continue raising interest rates which, while keeping prices in check, makes economic expansion far more difficult.


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