Last week we saw the stock market continue it’s momentum.  July turned out to certainly be a great month if you were invested in the market.  The question is, will August continue the momentum or not?  This will depend on several statistics released in the coming week as well as earnings reports from dozens of large companies.

Key Economic Statistics this coming week include Monday’s ISM Manufacturing Index, which is expected to fall around 54.2.  Tuesday we will get June’s Personal Income reading which the market expects to have risen slightly over May by 0.1%.  Personal Spending numbers will also be released on Tuesday, as well as Auto sale numbers and Factory Orders. Even more important will be Wednesday’s ADP Employment change numbers which are expected to increase by 25,0000, as well as Thursday’s Initial claims statistic which should be around 455k, according to economist’s predictions.  Any of these numbers could make or break the market for the coming week.

It also happens to be earnings season, meaning hundreds of companies will be releasing their numbers to the public.  Thus far earnings for the 2nd quarter have been better than expected.  Will this trend continue this coming week?