Strong economic data is not going to overcome the uncertainties of virus and no stimulus.

There was limited economic data available last week. There will be a wealth of data released this week. The most important will be the consumer confidence data on Tuesday, the income and spending data on Friday, and the Advance Report for third quarter Real GDP. While this data will be important in terms of confirming the strength of the rebound from the huge decline in activity from the second quarter, investors are more focused on the political and virus environment. The surge in the virus experienced in the last six weeks raises the possibility of another shut down of the economy.