Investing Club: Markets close out the year down, following light week of trading and economic data
In addition to some possible "window dressing," whereby fund managers dump underperforming stocks at the end of a quarter to avoid publicizing ownership of those positions, the market was also undoubtedly pressured by tax-loss selling this week. The S & P 500 closed down 0.25% Friday in a quiet day of trading. Stocks had their worst year since 2008.
However, Club holding Constellation Brands reports fiscal third-quarter results before the opening bell on Thursday. Here are some other earnings reports and economic numbers to watch for in the week ahead. Tuesday, Jan. 3 Before the bell: SemiLEDS Corp After the bell: SMART Global 9:45 a.m. ET: Flash PMI manufacturing Wednesday, Jan. 4 Before the bell: UniFirst Corp After the bell: Resources Connection , Richardson Electronics , Simulations Plus 10:00 a.m. ET: ISM manufacturing PMI 10:00 a.m.
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