03 Feb '12, 11pm

Wall St Week Ahead: With sparse data, focus returns to Europe

NEW YORK (Reuters) - Europe will again be at the center of investors' focus next week as the U.S. earnings season passes the halfway mark and there is little on the economic calendar to give the market direction. Economic data expected next week includes weekly initial jobless claims, the Thomson Reuters/University of Michigan's consumer sentiment index and international trade figures. Improving data helped push the S&P 500 index up nearly 7 percent for the year, highlighted by Friday's stronger-than-expected jobs report. "It's the old ping pong game. Today it is the U.S., tomorrow it is Europe again," said Joe Saluzzi , co-manager of trading at Themis Trading in Chatham, New Jersey . "Normally in this type of tape when there is no economic news, it seems like the bias goes to the upside." But Europe and whether European bond yields spike or other news from Europe emerges ...

Full article: http://sg.finance.yahoo.com/news/Wall-St-Week-Ahead-With-...

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