Stocks Profile

Like markets sometimes do, fortunes changed nearly overnight, and a rally took firm hold all last week. So firm, in fact, that a correction next week could be a time to buy, writes MoneyShow.com senior editor Tom Aspray.

Just a week ago, the financial news was pretty dire, as stocks closed near their lows and everyone was piling into three-month T-Bills that had almost no yield.

Stocks started off last week on a positive note, but it took until Wednesday or so before most paid any attention.

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Assuming the world doesn’t end tomorrow, here’s what’s shaping up to be a busy week for economic data and maybe some nasty surprises from Europe:

• Monday: The market will start keeping a nervous eye on Europe and the results of regional elections in Spain, which could kick up a hornet’s nest of hidden debt when the new folks take power. St. Louis Fed President Jim Bullard speaks (again!) on the economy.

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Markets closed up in New York after a turbulent week that held mounting concerns about the health of Japans people as well as its economy after Fridays catastrophic earthquake and tsunami. The Dow Jones industrial average capped the week closing 83 points up at 11,858, the Nasdaq was up 7 points at 2,643 and the S&P 500 was up 5 points at 1,279.

Members in the G-7 collaboration including the U.S.

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Week Ahead

A New World Order flavor seems to overwhelm this latest economic and stock market schedule. Between a secretive meeting of Persian Gulf foreign ministers, Dmitry Medvedev’s Global Political Forum and a group of banking officials and supervisors meeting to implement new global rules in Basel, Switzerland, something stinks this week.

Our founder earned clients a 23% average annual return over five years as a stock analyst on Wall Street.

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