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Investing Specialists

No News Is Good News

There was little economic news to spook the market this week, but next week's data could prove to be a real test.

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This week, equity markets continued on their path of least resistance, which is up. There was really no economic news to speak of this week, so the market had nothing spooking it. Earnings season is also largely concluded without a lot of shockers. Europe was quiet as well, with slightly better news here and there. The second week in a row of declining initial unemployment claims and a breakout in home price growth to over 10% in the U.S. were the only data points to get really excited about all week.

Markets seemed to still have at least one eye on China. Stocks were up sharply as China's somewhat sketchy export report showed surprising (and perhaps unwarranted) strength. Markets gave some of that back a day later when inflation rates in China and several other emerging markets ticked up again, raising fears that China might put some of its easy lending policies on hold.

Robert Johnson, CFA does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.