U.S. Week Ahead: One step closer to the edge of the cliff!
Friday, November 30, 2012 - 02:55
Nov 30 - Expect the rhetoric to ramp up in DC with less than a month before the U.S. tumbles off the fiscal cliff. This time it's the turn of the defense industry to make their case against spending cuts.
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Is running out there is less than a month before the US hobbled off the -- Clinton and so far there is no solution and ice. Expect to hear more frustrated voices from the business community about the deadlock plaguing DC. They're Batman CEL west bush and other hot -- exact -- holding a news conference on Monday their goal is to explain ramifications. On the defense industry and national security it's about 400 billion dollars has cut from the defense budget. Also on Wednesday the business roundtable lobby group will meet with President Obama. So president Obama's gonna continue to apply his outside in his strategy but it's not really clear whether we're gonna see any actual progress next week. The consensus here in Washington as we probably won't get a deal until shortly before Christmas. That's because any deal probably is gonna require painful tradeoffs on either side and it'll be hard for Obama in house speaker John Boehner to explain to their allies. Why they -- such tough trade -- if they are negotiating up until the last possible minute. That that will definitely feature in all the political rhetoric Friday's nonfarm payrolls. That is to be a big disappointment with only 80000 jobs expected in October. That would be the weakest showing since June unemployment is also set to rise slightly to 8%. But take it with a grain of salt economists say the numbers will be distorted by super -- standing. And that we could get a clear picture of recovery next month. Ironically Andy may have actually helped the auto industry vehicle sales on Monday it looked like it will hit their strongest pace in over four years. With annual sales hitting fourteen point eight million. Consumers in the northeast began buying new cars and trucks to replace their -- -- Earnings and JPMorgan could get a sneak peek out its fourth quarter results on Tuesday CF followed dad Ron -- is set to give an update on the financial giant's outlook. Goldman Sachs conference investors wanna know whether the bank is still bullish on housing. Its last quarter profit grew by over 30% thanks to its booming mortgage lending business. That's also fueling JPMorgan shares up 17% this year. -- CFO John -- hack it will also appear at the Goldman Sachs conference on Wednesday. Investors will want to know what debate is doing to cut expenses and the face of -- business and higher costs from regulation. -- appearances com two months after Vikram Pandit abruptly left. And was replaced by Michael -- got -- the -- delivered significant new information. Could be a sign that core that is moving quickly to make changes. Shares are down 8%. And hand it to. Follow us on Twitter at Reuters Insider and kept our interviews with top market mover is on break your CD quality on this is traders.
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