Sam Stovall, equity analyst at Standard and Poor’s, said the past week “was a good example of how determined both the bulls and the bears are on their near-term positions.”
“The market may move to a period of digestion and need a new catalyst, whether it’s guidance from companies, news from economic data or any kind of developments in [merger] activity,” he said.
Bonds fell on the week. The yield on the 10-year Treasury bond increased to 3.503 percent from 3.392 percent a week earlier and that on the 30-year bond rose to 4.394 percent against 4.236 percent. Bond yields and prices move in opposite directions.
The week ahead has a light menu of economic news, including data on the US trade balance. Results are due from retail giant Wal-Mart and the Walt Disney Co.
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