Reuters - Video

Edition: US | UK | IN | CN | JP

Finance Videos

U.S. Day Ahead: BofA could be a rare ray of light

Tuesday, July 17, 2012 - 03:00

July 17 - Bank of America reports earnings, Bernanke is back on Capitol Hill and housing starts could show signs of more healing in the real estate market.

▲ Hide Transcript

View Transcript

You freezes you don't hear together very often and good news and Bank of America the Wall Street titans earnings are expected to be strong especially compared to the nightmare of what -- reported last year. In fact BofA is making up the bulk of earnings growth in the S&P 500 this quarter. Analysts say come down to Boston Brian point hand cutting costs. But -- is breaking news and Kenny Perry says isn't tricky balancing act. What America has one of the highest cost gracious in the business about 8% of revenues cost the average bank is around about 65% these days. If we can make you managed to get them that's then the second quarter earnings were probably almost triple what -- target estimate. Now that's not gonna happen in the second quarter is as much as long as the game. The one thing the prime and -- capital is not hot seat quickly is if he does that -- -- hopefuls taking on any reader. While it's still early but so far corporate America -- having a surprisingly stronger earnings season we'll see if that holds up as more companies report before the open and it will hear from black rock they give new York Mellon Honeywell and US Bancorp. After the close its American Express eBay IBM and Yum! Brands the top sector has been materials thanks to strong results from Alcoa. And Monsanto. We'll just Dorsey had hoped for answers from the wizard. The markets all want to Ben Bernanke's testimony today for some clues on where the markets will be heading. I would hear consumer dipping into their pockets uncertainty over the US is fiscal policy and the Euro crisis it doesn't seem like will be skipping down the yellow brick road anytime -- pretty he didn't give investors exactly what you're looking for and stocks slipped right after his speech. But the question is really. Does go through with another round of bond buying how much will -- really help. Pretty he will be back on Capitol Hill Wednesday for another round of testimony and well done. You can -- got your -- analysts are so expecting bright spots in the June housing starts. Those are well about 2011 levels according to I have far. While still relatively low single family residential construction sites have seen an increase in ground breaking. But it will be a little while before we see clearly and there are still a lot of obstacles. In the way. -- The 21 talking -- that could shed more light on what's going on when the recovery. First up Treasury Secretary Timothy Geithner is at the delivery alpha form a -- investor conference. And then at Goldman Sachs boss Lloyd Blankfein. Speaks at the economic club of Washington. This comes after the banks saw it investment revenue lines and -- for more insider you can follow us on Twitter at Reuters Insider and check out our borders YouTube channel had -- dot com slash -- TV. I'm -- mom this liberators.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

U.S. Day Ahead: BofA could be a rare ray of light

Tuesday, July 17, 2012 - 03:00