U.S. Week Ahead: Deal or no deal, the damage’s already done
Friday, December 28, 2012 - 02:51
Dec 28 - Looks like Wall Street will be working the last weekend of 2012 as the political deadlock over resolving the fiscal cliff continues.
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Box full. 500 now has its longest losing streak in three months. It now looks like Wall Street will be working the last weekend of 2012. That's because the house is back concession on Sunday. To discuss what have a solution if any is proposed to avoid 600 billion dollars in tax hikes. And spending cuts one positive piece of news -- -- -- as the impasse will not the US is already downgraded credit rating. What illustrator told Reuters there is another selloff on Monday by the debt because equities will be strong in 2013. I'll likely get the first reaction from the the Fed on Friday -- three top policy makers speak we'll hear from Philadelphia fed president Charles Plosser. Vice chair Janet Yellen and Louis fed president James dollars. Alert is perhaps the most outspoken fanatic group at the beginning of December he said no out of monetary policy from the -- Would be able to offset the damage that's the economy. -- US humble about the -- Meantime the big -- to focus on -- Friday's nonfarm payrolls report. I -- bars as it should choke businesses are still cautious for 2013. Expect only 145000. Jobs created in December. -- even from last month. It's just enough to keep it on unemployment. For closer look at the economy attention to three sectors. First manufacturing. Job losses peers should stop after it's not losing streak construction. Expect 5000 extra positions thanks to the housing recovery. And then retail hiring should cool from 52025000. Its lowest level since August. We won't get confirmation about how I married a holiday seasons its retail with same store sales on Thursday. Overall sales growth is -- -- less than last year at about 3%. Discounters such as Wal-Mart they look like you're gonna fare better. The warm sector teen apparel which includes Abercrombie & Fitch and went CO sales Hairston followed by over 1%. Investors been voting with their fees the Morgan Stanley retail index down 6% since late November. And -- just make about 30% of their annual sales. And in many cases half of their profits in the holiday season. For more coverage of that fiscal -- soap opera makes sure to follow us on Twitter Reuters Insider. Catch our interviews with top market movers on Reuters TV also don't forget bond markets close early Monday and it's a market holiday on Tuesday for many years. I'm Rhonda -- this is riders.
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