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U.S. Week Ahead: Don't bet on support from "Super Ben"

Friday, September 07, 2012 - 03:36

Sep 7 - One economist tells Insider the recovery is not that shaky for Ben Bernanke and the Fed to pull the trigger on more stimulus. He holds a key news conference on Thursday.

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He's usually mild mannered central banker. The markets are looking for the return of this guy. Super bass. They're hoping Bernanke will come to the rescue at a news conference on Thursday especially after the recent jobs numbers in -- pretty grim reading. Under 100000 jobs are created in August far fewer than expected. Now investors are betting the report was ugly enough to make Bernanke restart the printing presses he's already spent 2.3 trillion dollars on bond buying. One economist told insiders don't expect another -- this time -- Forecast is like myself we look at the numbers for third quarter GDP growth and you probably revise it wrong. 214212. Games if it if we suddenly had. The situation where -- all prices were rising sharply consumption was. Falling and now on top of that at declining employment decline in payrolls that -- -- this is not. The other event that will define the week -- apple unveiling its new iPhone and possibly a smaller iPad on Wednesday. There's a lot riding on -- launch as the tech -- gets about half its revenue from iPhone. CEO Tim Cook -- -- the wild Wall Street. Help justify the company's soaring share price especially as rivals taking. -- -- Our phone market has gotten very very competitive. The android based -- devices which are sold by the number of manufacturers are are already outselling the Apple iPhone. Are you also now have a number of new entrants based on the windows -- the new windows software from Microsoft are which has a lot of arm muscle behind it. RB attached to consumers is still unproven but it's still a very significant potential competitor. Another tech -- in the spotlight Facebook's Mark Zuckerberg. He makes a rare public appearance on Tuesday -- techcrunch conference in his first onstage interview since the IPO. Zuckerberg will face questions about Facebook's slowing revenue growth its mobile advertising strategy. And the fact that some insiders are selling their stock. Don't expect an easy ride investors have been stunned by Facebook's fall from grace its shares have lost 50% of their initial value. That means Zuckerberg is down nine point six billion dollars. How much. Remember that's six billion dollar trading losses JPMorgan two months ago while the bank CEO Jamie diamond is back to convince investors that. All is well. He talks at a partly finance conference on Tuesday diamond may also give an update on the outlook for profits JPMorgan stock up 5% on the week. His comments could also influence the market's outlook for results from other commercial and investment banks. Other big financial hitters at the conference include Citi CEO Vikram Pandit and the head of black rock Larry -- Data had seen some comfort in this fragile economy. Look out for retail numbers on Friday. I've force as we just see another strong read. Thanks auto sales jumping in here for a half year highs. Also be respectable gains from building materials and garden supplies as a recovery in the housing sector inches long. But -- far warns the weakening labor market could eventually put the brakes on consumer spending so watch this base. And stay with Reuters TV and insider for more expert analysis on the big market movers. Check out Reuters YouTube at Reuters dot com slash Reuters TV. And follow us on Twitter at Reuters Insider I'm Fred Katayama and this is --

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U.S. Week Ahead: Don't bet on support from "Super Ben"

Friday, September 07, 2012 - 03:36