The road to recovery was bumpy this past week and occasional weeks like this should be expected given that the projected recovery is forecast to be sluggish. While the worsening in the rate of job loss is disappointing, net it still looks like the recession is bottoming soon. But one should keep in mind that the vast majority of economists expect employment to recover significantly after the overall economy.
There is just one market moving indicator this week – international trade on Friday. But after last week’s reversals in the jobs report and consumer confidence index, markets will likely pay more attention than usual to the unemployment claims and consumer sentiment reports.