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U.S. Day Ahead: Consumers make store sales rosy

Wednesday, February 29, 2012 - 02:40

Feb. 29 - Thomson Reuters Retail Analyst Jharonne Martis says shoppers are getting back on form with same store sales expected to punch through a key level.

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Here's your US -- had the economy is back under the microscope. First up we'll check the pulse of retail with -- same store sales data. Expect overall sales to rise by over 3% in February thanks to warmer weather driving spring merchandise. Thomson Reuters retail -- -- artists as shoppers are getting back on war. And we above 3% reflects that consumers are in great shape and it's clear that higher gasoline prices are not stopping them from opening up their wallets. On top of that we've had robust consumer confidence numbers thanks to an improving job market. We'll also check under the -- of Detroit throughout today with vehicle sales. December's figures are likely at an annualized rate of fourteen million units in February up from a year ago. Bullish analysts say sales could even rise to levels before the financial crisis. Reuters out of correspondent -- would also as low interest rates are driving the sector. Simply put it -- -- more affordable the monthly payment is chief for US consumers. And more auto makers are offering picture please -- lowering the monthly payment giving consumers and the -- consumers have been on the sidelines waiting for such an event. I sent figures out at 8:30 AMR's -- -- show the recovery is steadily limping along. The manufacturing index should see a -- -- opted 54 point five in February its highest level in eight months. Analysts say we could see more growth thanks to spare capacity. Fed Chairman Ben Bernanke will be on the hill again at 10 AM with the same testimony on the economy. He rattled markets on Wednesday by saying there have been some incremental improvements in the economy. The burgeoning recovery may cancel out any need for another round of -- And keep an eye on the markets when the chairman speaks gold was hammered by Bernanke somewhat optimistic remarks. And stock's biggest one day drop in two and a half months. The price of the precious metals started to fall the beginning of this scheduled testimony. And also hit -- G Goldie -- down about 4%. Two key voting members on the Fed takes the podium both our doubts. At 8 AM Cleveland president Sandra and all those speaks about growth at 1230 Atlanta president Dennis Lockhart talks economy and banking. Especially retail is set to dominate results on the radar. DineEquity Kroger Martha Stewart Living and Wendy's before the open after the close its foot -- turn. Martha Stewart's company is that standout however. Drama doesn't firm which is a dispute with Macy's has a high chance of missing mean earnings by by cents. I'm Fred Katayama and this is Roy.

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U.S. Day Ahead: Consumers make store sales rosy

Wednesday, February 29, 2012 - 02:40