ECONOMIC WEEK AHEAD: December 22–26

This looks to be a mercifully quiet holiday week that nonetheless offers a smattering of key data releases. Chief among them will be Q3's GDP and December's Consumer Confidence Index survey.

Clearly, the economic fog caused by the government shutdown is following the markets into the new year. Though recent employment data have been illuminating—showing that the labor market may be a bit more robust than many expected—their quality is questionable. The same can be said of other recently released key data series.