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US Week Ahead (July 15, 2012 – July 21, 2012): Financials raise expectations, Techs and Retail set to disappoint

LOS ANGELES, CA - SEPTEMBER 29:  Norman Rothba...

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

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This entry was posted on July 14, 2012 by in Amitonomics, Banking, Financial Markets, housing, Retail Lifestyle, US.


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