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December 5, 2004 04:41 PM

The Tax Man May Take a Bite


Excerpt: Stocks may come under pressure next week as investors sell shares at year's end to prepare for tax season. But crude oil prices, earnings outlooks and moves in the dollar will also be closely watched.


Stocks may come under pressure next week as investors sell shares at year's end to prepare for tax season. But crude oil prices, earnings outlooks and moves in the dollar will also be closely watched.

Economic data on productivity and labor costs, producer prices and consumer sentiment are due and will be read for hints on the health of the economy and signs of inflation.

"What we're going to see next week is a continued focus on the dollar, oil and interest rates," said Fred Dickson, chief market strategist at D.A. Davidson & Co.

"And we're looking for some normal seasonal consolidation next week. Some of that comes as a result of tax selling or the fear of tax selling."

The Standard & Poor's 500 index (^SPX - news) climbed to the highest level in more than three years this week, so investors may sell stocks to book gains or losses for their taxes as the calendar year draws to a close.

The U.S. dollar, which fell to yet another record low against the euro on Friday, has spooked markets in recent weeks. So investors will continue to monitor the currency's moves.

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Read all 40 posts in the same category of Investment:

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Assessing What Will Now Happen to Fannie Mae - Dec 17, 2004
Brokerages Battle for 'Active Traders' - Dec 14, 2004
Taxable And Tax-Exempt Not So Different? - Dec 11, 2004
The Dollar Dilemma - Dec 08, 2004
Fear Itself - Dec 08, 2004
Wall St. Turns To The Time Out As Punishment - Dec 08, 2004
How To Profit On A Weak Dollar - Dec 08, 2004
Zhou Comments Boost Yuan Forwards - Dec 07, 2004
SEC: Hedge Fund Advisers Must Register - Dec 06, 2004
Should You Be Buying Gold? - Dec 06, 2004
Money Market Funds Reinflate Fees - Dec 06, 2004
China Pledges Stable Policies - Dec 05, 2004
The Insiders Are Selling. But Is That So Bad? - Dec 05, 2004
Fed President: Measured Hikes Ahead - Dec 03, 2004
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