The markets had a mixed week, and an especially unnerving drop on Thursday.   The Dow was up .46%, the S&P down .19%, and the NASDAQ down 1.01%. Markets were shaken Thursday, with a 94-point drop in the Dow. On Thursday evening, Dell reported earnings numbers, which were much lower than expected. Dell has had difficulty maintaining their margins while offering discounts to encourage sales during the recession.

There is some contention about the level of sales we will see in the coming Black Friday and general Christmas selling season. On one hand, retailers are offering deep discounts, which may simply be a reflection of high markups, but the important result is the consumer’s perception of value. On the other, retail inventories were down 14% for the month of October, according to the Census Bureau data released November 16. This figure might indicate that retailers are expecting a relatively light Christmas season.

Next week, there is a significant amount of housing data being released. Both new and existing home sales will be coming out, as well as mortgage applications and the home price index. We will also see durable goods orders, consumer confidence figures, and of course, weekly initial jobless claims.