Yahoo Finance Next week's market: What to watch
Yahoo Finance polled some of the experts here in the office to find out what they think will move markets next week!
Yahoo Finance's Aaron Task is looking ahead to jobs day next Friday. “It’s going to be big because it’s always big,” he says, adding that even more attention might be paid to it given Janet Yellen’s testimony on Capitol Hill this week and renewed focus on the schedule to raise interest rates.
Related: Yellen comment highlights simmering debate over return on excess reserves
The consensus number is 235,000 new jobs with an unemployment rate of 5.6%.
Task will also keep an eye on average hourly earnings. He notes last month's half-a-percent rise was a surprise and as wages continue to dominate headlines, it's worth paying special attention to them.
Yahoo Finance Senior Columnist Michael Santoli is watching for Nasdaq 5000. “It’s been an amazingly slow-trudging, orderly rally up to these levels,” he says. “The fact that you have the market a little bit extended as you get to 5000, it would be a really logical place to just take a break for a while.”
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Regardless of what it may or may not do after it arrives at that psychological level, Santoli says it will "make some noise" when it hits it.
Jen Rogers is watching the art market. Sotheby’s (BID) reports on Monday and the famous Armory Show kicks off as well next week. “This market is red hot right now and I am interested in talking to people as an indicator of a stock market decline because, as you sometimes see, we get these huge huge sales and then six months later it’s not very good on Wall Street.”
If you don't think art has a big financial impact, take the aforementioned Sotheby's and competitor, Christie's-- Combined, they did roughly $14 billion in sales last year, a record for both.
Some key earnings to keep an eye on include Best Buy (BBY), Hovnanian (HOV) and the embattled Caesar's Entertainment (CZR).
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