U.S. Day Ahead: Why the Wells wagon could hit some bumps
Thursday, January 10, 2013 - 03:02
Jan. 10 - Wells Fargo is set to see its profits grow from last year, but could face issues with its mortgages and how much it earns from loans going forward.
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These folks in the music fans excited. But thick -- and will investors be as optimistic. When Wells Fargo reports earnings. On paper at least the -- looks it's going from strength to streak. Are expecting the US largest mortgage lender to see bigger profits from last quarter and a year ago that's recent boom in refinancing. Markets agree that stocks are up 25%. Of the beginning of last year. But it looks like the well speech coach. A couple of bumps in the road. First words that he will BA -- issue for investors when wells are reports on Friday the biggest mortgage lender in the United States -- I -- 139 million of moments in the third quarter generally -- -- -- -- whether that's up or down in the fourth quarter as everyone expects a little bit of a slowdown in the refinancing boom here in 2013. Another key issue for -- isn't -- huge margin in the third quarter and went down 25 basis points to three point 66%. Pound it's not mr. Beasley to drop here and recorder what are we watching that closely as well. How low interest rates are putting a lot of pressure on concern. Don't forget Wells Fargo kicks off financial earnings next week we'll hear from Goldman Sachs JPMorgan Bank of America. Citigroup and other big regional players. Meant to be the best performer this quarter but -- -- by consumer discretionary. Includes retail in autos and that's because analysts reduced their estimates for Bank of America after eleven point six billion dollar settlement. With -- me. Whether he or long or short on bass I pay attention to what the ailing company says about how did over the holidays. Analysts on average expected sales to drop by almost 3% in the critical shopping period. That would be good news for CEO of -- -- he's been trying to revamp the chain store in the face of cutthroat competition from. Amazon investors are pretty pessimistic best buy shares are down about 50%. Since the start of last year -- Your day had digital is minus 41 point five billion dollars. That's how much the deficit is set to shrink in November when international trade figures come out that's according to IFR. That is likely to raise estimates for how well the economy did in the fourth quarter. I have marked as trade should act to tap of a percent two DVP. That's about 32 million dollars. First reading of GDP is out in January the thirtieth. And make your thoughts on Twitter at greater than fighter and test our interviews with top market movers on Reuters TV. Looks like the Oscars look to our interview with Academy Award winning producer Harvey Weinstein Hedo impact players Robert wolf why it took six years to makes silver linings playbook. -- for eight nominations including best picture. I'm putting mom this is for years.
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