Posted January 22, 2012 17:18
This past week, the market rallied all the way through Friday on hopes of a Greek bailout. The optimism on Wall Street could quickly turn to pessimism if the Greek deal doesn’t get done. If the Greek deal is accomplished, and there are no negative reports to follow it, then the market should have no trouble rallying, at least until week’s end.
Another catalyst this week could be Apple’s earnings. This report will be releases Tuesday, after the market closes. Whether this event will be a bullish or bearish catalyst will be questionable. Apple is seen to report $10.06 per share (EPS) and over $40 billion in revenue. These are pretty staggering numbers, but when in comparison to Apple’s astonishing growth rate over the past few years, Apple should have any trouble surpassing them.
On Friday, the GDP number is coming out. The expectation is for a 3.1% growth rate. This number seems to be positive for the market, and it is, but this comes right after the holiday season. If the GDP can stay at this level, if not increase, for the coming months then it would reiterate the positive economic climate that is developing.