LOS ANGELES, CA – SEPTEMBER 29: Norman Rothbaum a customer of bank of America uses a Bank of America ATM on September 29, 2011 in Los Angeles, California. Bank of America annouced its plans to start charging a $5 monthly fee for customers using their debit card for purchases starting early in 2012. (Image credit: Getty Images via @daylife)
Results season has struck analysts with a venegeance as most results are going to trigger reratings starting with Financial with JP Morgan and Wells Fargo ruffling the sector on Friday. Monday, Citi reports and after BofA on Tuesday, Goldman sachs stars in its new avatar on Wednesday and morgan Stanley tries to avoid the hounds on Thursday. Techs have a quick and fast results calendara s well and with Microsoft and Google slated for Thursday, not much more would be expected from results season after this Thursday. Yahoo reports a turnaround. Retail however is stuck with it slowest quarter for three years, stuck as the harbinger of a Big Blow Recession as same store sales at Target , Kohl’s and others like Walgreen hwo have not been selling gasoline also ticks down to near zero. Retail Sales ticked down because of faalling gas prices too but the decreaase is higher than just gas and June was the worst month of the quarter
The Empire state and Philly surveys are due this week for june. The Beige Book mid week will talk of modest recovery across the nine districts as will the Housing starts report on Wednesday
Business inventories on Monday and the Treasury International Capital on tuesday report on the degree of slowwness and the exact trqaajectory of waning of Foreign investor interest in the USA and its “safe haven” treasuries” the ECRI Leading Indicator basket has already singaled a better turn with a -2.20% score from -2.80% last week up to 123.2, barely above its levels in September ’08
July retail sales are unlikely to go over the 3% mark in any of the reports this week but July may still be better than the heat of June, except for back to school seasons being compared independently with last year
Related articles
Retail Consultant Amanda Raines Makes Debut on Retail Thought Leadership Site with Podcast on Retailer Trends(prweb.com)
The First Ever 3D Eyewear Retail Store Opens in the U.S.A(prweb.com)
China 2Q GDP 7.6% as expected(forexlive.com)
China growth now ‘more sustainable’(news.theage.com.au)
Burberry Cites Challenging Market as Revenue Trails Estimates – Bloomberg(bloomberg.com)
Palo Alto Networks Seeks as Much as $229 Million in IPO – Bloomberg(bloomberg.com)
Goldman Sachs, Bank of America Say Fed to Hold Rate – Bloomberg(bloomberg.com)
Related Reading:
Investment Banker in salesclothes
