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The nikkei lost 26 points, while in hong kong, the hang seng dropped 265. well there will be no holiday mood this week on wall street. just euro debt gloom. expect light volume, which lately often leads to volatile swings on headlines. the week's potential headline data includes tomorrow's preliminary report on the nation's third quarter economic output. wednesday brings weekly jobless claims. traders will watch for signs from spain. over the weekend, that nation's ruling associatists were voted out. the third government toppled in three weeks over europe's debt crisis. one new area of concern...

Economic data? >>guest: you have to look beyond the headline data. it is not better for consumers when we look at close to $5 gasoline. a cameraman showed me a picture of the pump where his family is from and it was $5.15 for regular. so filling up your tank we have to do it, and it is going to insight a lot of anger in the consumer on top of everything else. cotton. food prices. dairy. everyone is rising and the consumer cannot get ahead. >> the consumer has been able to hang on and is around $3.80 but when they have made it through the beginning of summer and maybe a vacation here and there ...