Today's Key Market News - Gone Fishing
We've gone fishing folks, and some technical problems have complicated things today. However, please find today's most important market-moving information below.
Wall Street Greek will be intently awaiting the Weekly Initial Jobless Claims Report on Thursday. While we are sticking to our argument that new hiring should slow before layoffs begin, ahem, and yes, we were correct given the last Employment Situation report. We think the signs of employers buying into recession are apparent now, and there should not be much delay before consumer sensitive retail and other services are hit hard by consolidation. Bloomberg reports consensus expectations for about 320,000 newly laid off benefits filers, up 1,000 from the week before.
At 10:00 a.m., August Leading Indicators will be announced, and the consensus is looking for a 0.3% decline, after a rise of 0.4% was reported last month. The September Philly Fed Survey is expected to measure 4.0 after posting 0.0 in August. We find the sentiment of the manufacturing sector ominous at this point.
Fed Chairman Bernanke will be in Washington testifying on the state of the mortgage market. Meanwhile the "First Distressed Capital Connection-Opportunities to Invest in Distressed Businesses Conference" begins in New York, just in time for a large group of lenders and builders.
The fate of ABN Amro will be discussed at the company's shareholder meeting on Thursday. Reporting earnings, Goldman Sachs (NYSE: GS) is expected to post the most positive of reports among the investment banks. Also reporting, look for 3Com (Nasdaq: COMS), A.G. Edwards (NYSE: AGE), ACI Worldwide (Nasdaq: ACIW), American Greetings (NYSE: AM), Bear Stearns (NYSE: BSC), Carnival Corp. (NYSE: CCL), Circuit City (NYSE: CC), ConAgra Foods (NYSE: CAG), Diamond Foods (Nasdaq: DMND), Electroglas (Nasdaq: EGLS), FedEx (NYSE: FDX), IHS Inc. (NYSE: IHS), Media Sciences International (Nasdaq: MSII), Nike (NYSE: NKE), Optium (Nasdaq: OPTM), Oracle (Nasdaq: ORCL), Pier 1 Imports (NYSE: PIR), Progress Software (Nasdaq: PRGS), Scholastic (Nasdaq: SCHL), Steelcase (NYSE: SCS), Tektronix (NYSE: TEK) and a good group of foreign companies.
If you would like to advertise in the space below our articles, we are now offering tailored plans, including assistance in ad design. Contact us at WallStreetGreek @gmail.com to find out more. (disclosure)
At 10:00 a.m., August Leading Indicators will be announced, and the consensus is looking for a 0.3% decline, after a rise of 0.4% was reported last month. The September Philly Fed Survey is expected to measure 4.0 after posting 0.0 in August. We find the sentiment of the manufacturing sector ominous at this point.
Fed Chairman Bernanke will be in Washington testifying on the state of the mortgage market. Meanwhile the "First Distressed Capital Connection-Opportunities to Invest in Distressed Businesses Conference" begins in New York, just in time for a large group of lenders and builders.
The fate of ABN Amro will be discussed at the company's shareholder meeting on Thursday. Reporting earnings, Goldman Sachs (NYSE: GS) is expected to post the most positive of reports among the investment banks. Also reporting, look for 3Com (Nasdaq: COMS), A.G. Edwards (NYSE: AGE), ACI Worldwide (Nasdaq: ACIW), American Greetings (NYSE: AM), Bear Stearns (NYSE: BSC), Carnival Corp. (NYSE: CCL), Circuit City (NYSE: CC), ConAgra Foods (NYSE: CAG), Diamond Foods (Nasdaq: DMND), Electroglas (Nasdaq: EGLS), FedEx (NYSE: FDX), IHS Inc. (NYSE: IHS), Media Sciences International (Nasdaq: MSII), Nike (NYSE: NKE), Optium (Nasdaq: OPTM), Oracle (Nasdaq: ORCL), Pier 1 Imports (NYSE: PIR), Progress Software (Nasdaq: PRGS), Scholastic (Nasdaq: SCHL), Steelcase (NYSE: SCS), Tektronix (NYSE: TEK) and a good group of foreign companies.
If you would like to advertise in the space below our articles, we are now offering tailored plans, including assistance in ad design. Contact us at WallStreetGreek @gmail.com to find out more. (disclosure)
posted by The Greek | 7:35 AM
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