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U.S. Day Ahead: Fed spending to end by summer 2014

Tuesday, May 21, 2013 - 01:52

May 21 - As Fed Chair Ben Bernanke gets ready to testify before Congress, one top economist gives his prediction about when the Fed will stop its massive stimulus.

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The biggest reason to listen to fed chair Ben Bernanke's testimony on Wednesday. Meteoric rise of the market is the S&P 500 is at an all time high soaring about 17% since the start of the year. The big driver has been that bad and massive 85 billion dollars a month worth of bond behind me. And investors will be Gary Bernie he's worth for any clues about when that -- and here's what one top economist big. If the economy is gonna gross continue to grow slowly like I expected inflation is gonna remain very low -- target. I expect in the maintain their current appointees -- at least through most of the are now out by this time next year I do expect them to be tapering there QB and bite -- spring summer of what -- do you expect that it. And you'll have pretty -- testimony live on insider at 10 AM eastern plus the latest reaction from Reuters columnist Jim stopped. And other top analysts. -- the optimist when it comes to Hewlett-Packard's earnings at least according to Goldman stock. HP has jumped almost 50% since the start of the year but Goldman says profits and sales will likely miss street estimates because of weaker PC sales. On top of that the company's guidance going into the next quarter could be on realistic. Expect lows to right to rebound in housing like its competitor Home Depot when it reports earnings. Its profits should leave at about 16% from a year ago almost matching the jump in new home sales it shares are also flying. They are up almost 50% in the last twelve months. A cautious note from analyst at Oppenheimer though they say it Lowe's has expanded to quickly and not necessarily -- prime locations. Oppenheimer recently downgraded the stock from outperform to perform. Follow us on Twitter at Reuters Insider and get more of our video that Reuters dot com slash writers TV I'm ready mom this is --

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U.S. Day Ahead: Fed spending to end by summer 2014

Tuesday, May 21, 2013 - 01:52