Retail Sales, FOMC, Euro Zone GDP: This Week?s Economic Events
The main event this week is April?s retail sales report, which could see some payback after the unseasonably warm weather boosted March?s results. In Europe, investors will get a look at how the region?s economies fared in the first quarter.
Investors Flock To Safe-Haven European Debt On Greece Fear
German government bond yields hit fresh all-time lows while Spanish borrowing costs rose sharply Monday as worries intensified over whether Greece is edging towards leaving the euro zone, sapping demand for riskier assets.
Bank Stocks: Are They Cheap Because They Are Bargains Or Value Traps?
Since hitting 52-week lows last October, U.S. financial-sector stocks have staged a strong comeback -- rising some 34 percent. Despite this uptick, they still look like bargains, at first blush.
China's Weak April Economic Reports Lift Odds Of Monetary Easing
Just about everything in China's economy seems to have gone backwards in April and the raft of weaker data raised fears that the world's second largest economy has yet to bottom out.
33 Key Earnings Reports To Watch This Week, May 14-18
The earnings calendar for the week ahead will be comparatively light, but a number of bellwether companies will be reporting results.
US PPI Falls 0.2% In April On Lower Gas Prices, Largest Drop In 6 Months
U.S. wholesale prices edged down in April as energy costs declined, pushing the measure of inflation to its lowest annual rate in two and a half years, supporting the Federal Reserve's view that the jump in fuel costs is only temporary.
US Postal Service Loss Widens To $3.2 Billion in 2Q
The nearly bankrupt U.S. Postal Service said Thursday its net loss widened to $3.2 billion in the fiscal second quarter as revenues continue to dwindle. It also said it lacks sufficient cash to pay for required future retiree health benefits.
US Jobless Claims Edged Down To 367,000 Last Week
Fewer Americans than expected filed for jobless benefits last week, calming some concerns about the jobs market recovery after a disappointing April employment report. However, many signs point to the fact that companies are still very cautious about adding workers.
JPMorgan Chase Rolls Out Prepaid Card To Recoup Lost Fees
JPMorgan Chase & Co. (NYSE:JPM), the largest and most profitable U.S. bank, will launch a reloadable prepaid card in its 5,541 branches this summer, aiming to attract new customers and recoup fees it has lost under recent regulatory changes.
March US Wholesale Inventories Rise Only 0.3%, On Cheaper Oil
Wholesalers increased their stockpiles modestly in March, but by less than economists had expected, as the value of petroleum stocks dropped by the most in nearly two years.
German Exports Up 0.9% In March, Hit Record
German exports unexpectedly rose for the third straight month in March as demand from outside the euro zone offset weaker sales within the currency bloc, prompting economists to predict that Europe?s biggest economy will escape recession.
Walt Disney 2Q Profit Up 21%, Tops Estimate
Walt Disney Co. (NYSE: DIS), the world's largest entertainment company, reported Tuesday that its second-quarter profit rose 21 percent, topping analysts' forecasts as solid results from theme parks offset a disappointing performance from sci-fi film John Carter.
Japan?s Marubeni Close To Buying US Grain Giant Gavilon For $5.2B: Report
Marubeni Corp., Japan's biggest grain trading company, is in exclusive talks to buy U.S. grain and energy trader Gavilon LLC for about $5.2 billion including debt, media reports said Tuesday, citing sources close to the deal.
German Industrial Output Surges In March
Industrial output in Germany shot up far more than expected in March, following February's weather-related weakness, renewing hopes that Europe's biggest economy may have avoided recession.
Ally Received Treasury Approval on ResCap Bankruptcy: Report
Ally Financial Inc., the auto lender majority-owned by U.S. taxpayers, has received conditional approval from the U.S. Treasury Department on plans to put its struggling mortgage servicing and lending unit into bankruptcy, Bloomberg reported, citing an anonymous Obama administration official.
Consumer Credit Surges In March By Most In Over 10 Years
U.S. consumer credit expanded in March at the fastest pace since late 2001, boosted by a rebound in credit-card use, and higher student and car loans, data from the Federal Reserve showed Monday.
Austerity Vs Growth Is A False Debate: IMF?s Lagarde
The debate over austerity versus growth is a false choice for policymakers, International Monetary Fund Managing Director Christine Lagarde said on Monday.
Abbott Labs Settles Depakote Investigation For $1.6 Billion
Medical device and drugmaker Abbott Laboratories (NYSE: ABT) said it will pay $1.6 billion to settle federal and state claims regarding illegal off-label sales and marketing of its neurologic medication Depakote.
32 Key Earnings Reports To Watch This Week, May 7 - 11
First-quarter earnings season is winding down, with about 84 percent of the S&P 500 constituents already out with their results. However, we will still see a number of bellwether companies reporting results this week, including: Walt Disney, Macy's, Kohl's, OfficeMax, Cisco Systems, Nvidia, News Corp., AOL, Tyson Foods and Priceline.
Trade Balance, PPI, Consumer Sentiment On Tap: This Week?s Economic Events
Highlighting the economic data this week -- May 7-11 -- are the March trade-balance figures to be released Thursday. Economists expect the U.S. trade deficit to widen after its sharp narrowing in February.
US Added 115,000 Jobs In April, Unemployment Rate Falls To 8.1%
The U.S. economy added far fewer jobs than expected in April, while the unemployment rate edged down as more people gave up hope of finding jobs, reinforcing the fear that the job market recovery could be losing steam.
Fed Has Already Done A Lot For Recovery: Fed Pres Lockhart
The risk of inflation is keeping the Federal Reserve from doing more to support the U.S. economy, even though the threats to price stability are reasonably contained at present, a Fed official said Thursday.
European, US Officials Struggle To Tighten Banking Rules
European Union finance ministers failed Thursday to hammer out new global banking regulations, highlighting the resistance regulators on both sides of the Atlantic face as they push for tougher banking rules to ensure banks won't spark another great recession, as they did in 2008.
US Jobless Claims Fall To 365,000, Biggest Weekly Drop In Nearly A Year
Fewer Americans than expected filed for jobless benefits last week, which came as a welcoming relief as investors held their breath and waited for Friday's jobs report numbers to come out.
US Unemployment Rate Likely To Hold At 8.2% In April
Hiring in the U.S. probably picked up somewhat in April after a disappointing showing in March renewed fears of another spring slump in the labor market, economists said in anticipation of the April non-farm payroll report due Friday.
Private-Sector Added 119,000 Jobs, Less Than Expected: ADP
The U.S. private sector added far fewer jobs than forecast in April, ADP reported on Wednesday, giving the market a pause as it awaits Friday's government employment report.
DJIA Spikes To 4-Year High On Manufacturing Data
The Dow Jones Industrial Average closed at the highest level since December 2007, lifted by a better-than-expected national manufacturing report that provided a welcome relief from a slew of disappointing regional manufacturing measures.
US Manufacturing Rises Sharply In April, Higher Than Expected
Business at U.S. manufacturers expanded in April at the fastest pace in 10 months that topped economists' expectation, according to a closely watched survey of the sector released Tuesday.
India?s Exports Shrank For The First Time Since 2009
India's exports in March fell for the first time in two and a half years as demand weakened in Europe and the U.S.
Stocks Finish April In Red: Daily Markets Wrap
U.S. stocks ended the last day of April on a sour note with all three major indices posting their first monthly loss of the year, following three months of solid gains. Investors were spooked by a duo of lackluster U.S. economic reports and news that confirmed Spain has plunged into a double-dip recession.
