Earnings season is beginning to wind down. The two big news items this week will be the release of the bank stress test results on Thursday and the employment report on Friday. We may see the first signs that the economy is stabilizing.
Thursday is stress test day. The government will give the results of its test on the 19 largest banks.
On Friday morning, we’ll get the employment report for April. The unemployment rate will probably go up a few notches from the 8.5% in March.