This week’s economic reports will be highlighted by Friday’s unemployment report, which analysts expect will illustrate the 11th straight month of declining job ranks in the U.S. economy.

Dow rallies 300 points ahead of Obamamania, Can the President Elect orchestrate a miraculous market Turnaround? Part one of your “chicken long” ideas and plenty more…

New home sales rose by 2.7% in September, according to the Commerce Department. Andrew Snyder says this is an important sign of a rebound in the property market. And that means adjusting your portfolio to include real estate investment trusts (REITs) like Post Properties (NYSE:PPS) and American Campus Associates (NYSE:ACC).

Stimulus checks helped send retail sales up 1% in May, the Commerce Department said yesterday (Thursday), bolstering the dollar and lifted the mood on Wall Street.

Consumer sentiment is in the dumps. This from MarketWatch:

U.S. consumer sentiment dropped to the lowest level in nearly 28 years in May as worries about inflation grew, according to the University of Michigan/Reuters consumer sentiment index released Friday.

The UMich index fell from 62.6 in April to 59.8 in May, marking the lowest since June 1980. The preliminary May index was reported at 59.5 two weeks ago.

In the currency market, the dollar firmed for a second day against the euro. Late Wednesday, the euro was trading at $1.564 vs. $1.5696 on Tuesday.

In the currency market, the dollar was slammed against the euro. Late Friday, the euro was trading at $1.5587 vs. $1.5432 on Thursday.

In the currency market, the dollar firmed against the euro. Late Tuesday, the euro was trading at $1.5482 vs. $1.5541 on Monday.

In the currency market, the dollar continued to backtrack after its recent runup against the euro. Late Friday, the euro was trading at $1.5473 vs. $1.5396 on Thursday.

The U.S. economy shed 20,000 in April, the Department of Labor announced in its monthly employment summary, bringing total unemployment up to 5% from 5.1% last month.