NEW YORK (Reuters) - Investors will battle with more turbulence around the problems of Europe's deepening debt next week and the prospect of another round of dismal data on the faltering economy of the States USA.
More volatility is almost guaranteed after high German officials to stop the European Central Bank and the rumors that circulated throughout the global marketplace, that Greece is used by default this weekend. Greeks later called market speculation about an item designed to damage the euro.
Market in recent trading models and options for action in August proposes a roller coaster ride to fast the whole month of September.
Juergen Stark ECB sudden resignation on Friday came after a dispute over the policy bank to buy government bonds in the fight against the crisis of debt in the euro area, raising questions about a program that was a market key stabilizing in recent months.
"You can tie directly to our market share of European banks - a problem that have a national debt exposure," said Jack De Gan, chief investment officer at Harbor Advisory Corp. in Portsmouth, New Hampshire.
In a light week in your income only electronics retailer Best Buy Co. Inc. and the diversified manufacturer Pall Corp., including the S & P 500 companies formed to report to investors eye clues batch of economic data is shown at the bottom . Economic readings over the past two months has left little cause for optimism.
But the euro area, where two years of the debt crisis has unsettled global investors, the real focus.
The ECB noted Gan crucial role in resolving the issue potentially sovereign debt, highlighting the implications for global markets, without reports of internal strife.
"Europe matters now - the resignation of the ECB, Trichet keeping rates flat, instead of total cut," said Phil Orlando, equity market strategist at Federated Investors in New York. "There are rumors that I can not justify, but Rumors are that's the weekend in Greece is bankrupt.
"Yes, of course, Europe is going to capture our attention," said Orlando.
Information on tap next week includes retail sales and consumer price indexes and production of August. It also provides regional production surveys by the Federal Reserve Bank of Philadelphia and New York Federal Reserve Bank, both of which showed a reduction of the factory last month.
"Every bit of data is theoretically in the way of understanding the true state of the economy. I hope an overreaction to the rule of the day," Forrest said Kim Caughey, senior equity analyst research Fort Pitt Capital Group in Pittsburgh .
Meanwhile, the S & P 500 has been involved in a range of about 100 points - between 1120 and 1220 - during the last month, leaving the broader market variations possible on a daily basis.
"We're just nowhere in the area," said Ken Polcari, managing director of ICAP Equities New York.
"We have not broken through for the worse, but they are not broken, it is upside down. What are you going to continue to receive this erratic movement in the market to a certain point, it will be a break in one way or the other."
The CBOE Volatility Index steadily rising, it also refers to the large moves in the market. Increased by about 20 percent to 40 levels for the first time since Aug. 26 shows increased investor skittishness.
"I hope that the high volatility next week, the big swings up and down. The VIX is large enough and high enough," said Randy Frederick, director of operations and its derivatives at Charles Schwab & Co. Austin, Texas.
"When the VIX is rising the way it is, tends to increase."
(Additional Reporting by Angela Moon and Rodrigo Campos, edited by Leslie Adler)
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