Inflation data and bank earnings will take center stage.
Good news is bad news again. At least as far as the stock market is concerned. Wall Street concluded an already softer week with a thud Friday after the December jobs report came in much hotter than expected. The S & P 500 lost 1.54% in the session and 1.94% for the week. The Nasdaq Composite and the Dow Jones Industrial Average , meanwhile, also fell sharply Friday and ended the week down 2.34% and 1.86%, respectively.
On Friday morning, the Commerce Department also will release its report on new residential construction in December, known as housing starts. With housing inflation remaining sticky, this data is important because it reflects new homes that will eventually be on the market to address the mismatch between supply and demand in many parts of the U.S. Economists expect housing starts of 1.32 million, according to Dow Jones.
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