On the earnings calendar, as you can see from the ones I have listed there is a significant amount of retailers reporting this week. That’s only a partial list, here’s the rest: ANN, BJ, APP, DDS, HOTT, DKS, ARO, GPS, PSUN, NWY, ROST, and TJX.
While many analysts expect U.S. corporate earnings and overall economic data to remain weak by historical standards, there may well be enough of an improvement over the prior months and quarters to spark some optimism that there are better times ahead.
Is Washington replacing New York – and more specifically, Wall Street – as the city that drives America?
Tuesday, the Dow fell 38 points. But the real action is in the gold market – the price rose to $908 per ounce. Even the gold miners are finally going up. What does it mean? Is inflation closer than we thought?
The unemployment picture took on an even more ominous tone this week as new layoffs emphatically underscored a worsening global economy. Now, fear is rising that the losses represent a major restructuring in the business world and that some, if not most, of the jobs are gone forever.
It came as no surprise to me that both gold got sold off a bit the moment that the gold market opened in the Far East on Monday morning. But it didn’t amount to much, because shortly after 2 p.m. in Hong Kong…1:00 a.m. Monday morning N.Y. time…gold began a slow rise that continued right through the London open. This lasted until the silver fix in London (noon) before selling off about ten bucks. But as soon as floor trading opened on the Comex in New York, the price rose…then spiked to its high of the day…before it was gently capped and then got slowly sold off until the end of Globex trading at 5:15 p.m. Eastern time.
America is mired in a deep recession – and the market’s problems are there for most people to see. Almost everyone I know is thinking more carefully before spending these days and companies are desperate for the business. Except Lowe’s (NYSE: LOW), it seems…
Justice Litle says these two things are clear right now: 1) America’s infrastructure is crumbling, and 2) Washington is ready to spend trillions to rescue the economy. Put them together, and that means big business for construction firms. Justice picks eight of the best companies in the industry, which has a bright future under President Obama.
HP Beats 4Q Forecasts; Carrefour Milks New CEO From Nestle; InBev Officially Closes Anheuser Buy; Home Depot Beats 3Q Estimate; Gulf Bank Loses $1.4 Billion; Mexican Tycoon Interested in Circuit City; Wholesale Prices Plummet
This week is shaping up to be another active one on the bailout-and-financing front. First and foremost, Congress returns to work this week to consider a once-unthinkable proposal: Put up billions in taxpayer-backed loans so that Detroit’s “Big Three” can be saved. Expect a fight, however, as the bailout debate finally moves past banks to focus on General Motors Corp. (GM), Ford Motor Co. (F), and Chrysler Corp.