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U.S. Week Ahead: Spain's pain; Dimon in the rough

Friday, June 08, 2012 - 04:05

June 8 - We'll see if Spain reaches out for and gets bank aid. JPMorgan's CEO Jamie Dimon is in the rough about his bank's $2 billion trading loss before a Senate hearing.

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Yeah that's stocks advance on Friday led by defensive shares but investors play things close to best they've remained cautious ahead of the weekend. As -- as expected to request aid ports troubled banks. That's what sources are telling Reuters Reuters economics editor for the Americans shop targets there so bill is being good to get the money -- me. This suddenly looks like it is being put together we're expecting. An announcement of a request by Spain tomorrow that's what the sources telling Royces in Europe. We also await seeing an order it from the iMac which would give. A good idea of how much money thing really needs respect what we've heard is somewhere around forty billion years it could be higher than that. Fitch's they would downgrade its thing. Said that perhaps the country needs is not sixty billion under -- baseline scenario or possibly a hundred billion. And and and more extreme scenario like the chaos that we sort islands. -- this be the fourth country in Europe to seek a financial rescue investors of course I -- is this it. Finally are there more shoes to drop. What is for a few things to say I'm afraid some of the countries that have already go programs may need more money that Ireland and Portugal. -- out looking Greece is very own sets and where everyone's on ten that hooks awaiting the outcome of the elections and on June 17 a week on Sunday. Could be that the anti bailout policies prevail that to be seen so that could be more of mourning for cash in increases well. And you know another very big economy bigger than -- itself as it's -- You know problems and it's in not quite as accuses them of -- but government officials say keep reminding everyone. That really the problems I'm not going away so if there's shot melt down or significant problems coming from some alliance bank. Who knows that could be very much from the folks the markets -- wrong. Robert thanks. JPMorgan Chase CEO Jamie diamond in the hot seat Wednesday he's going to be grilled by the senate banking committee about the banks stunning two billion. Plus trading loss. Would agree -- stupid mistake. We may know more away and got -- adores his first public questioning about that embarrassing hedging debacle. Retail sales out on Wednesday I -- is looking for a sales to increase by its head of 1% overall. And up three tenths of a percent excluding autos Thomson Reuters director of consumer research around artists -- some highlights for us. This is in line when -- -- -- -- same store sales data suggesting that despite higher prices consumers -- felt painful price for the latest fashion items. Which bodes well for second quarter margin. And there's more economic numbers for data -- next week on Wednesday we also get the Producer Price Index and of course maybe -- sales. I watch for consumer prices and jobless claims. On Friday the Federal Reserve's monthly index of industrial production papering some insight into where the economy is headed. You know we proceeding the FOMC meeting to -- -- to fed presidents and voting members both speaking on Monday. In one of his speeches recently got this Atlanta -- Dennis Lockhart said. Europe is the biggest risk to US growth at extending Operation Twist is on the table. And San Francisco fed president John Williams made headlines this week when he said the Central Bank. Should be ready to step up stimulus in case economic growth slows. Salt because then the world's tallest man since 2009. Has grown another two inches in the past three years. But the 29 -- -- has received good news. After multiple surgeries he's finally stopped growing cousins continuous growth was caused by a brain -- producing growth hormones. It may reached his father's -- at -- seven. And forced him to spent his childhood in solid. That is your weekend had follow us on Twitter Reuters Insider and also check out our TV channel at Reuters dot com slash Reuters TV. I'm Rhonda -- this is writers.

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U.S. Week Ahead: Spain's pain; Dimon in the rough

Friday, June 08, 2012 - 04:05