U.S. Week Ahead: Don't sweat the selloff -strategist
Friday, June 21, 2013 - 02:30
Jun 21 - This week's steep selloff in U.S. stocks presents a good opportunity to buy the pullback, says JPMorgan's Tom Lee.
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US stocks posting their worst week since mid April. So what store for next week here's a countdown of the top three stories for some clues. Starting with number three a slew of US economic data that for relief the final read board GDP should confirmed that the economy grew at a relatively robust 2.4 percent in the first quarter. Economists see that solid pace could slow in the second quarter I have -- as growth in the second half of the year will have to be pretty robot. Averaging just over 3% for growth to reach the -- projections by the end of the year. We could see more potential proof of housing recovery new home sales should show a continued climb -- in me. To 465000. Homes sold. And watch out for consumer confidence got economists polled by Reuters expect a flight -- Coming at number two the top earnings releases to watch out for on Tuesday starting off with Walgreens will -- higher margin generic drug. And over 72 million people now registered for their loyalty program has helped boost profits. Shares of Walgreen are up 66%. Since the same period last year. Next investors will be closely watching to see -- Barnes and Noble's nook business has worth and shares of Barnes & Noble also up 66%. In the last year. And US home builder Lennar has seen soaring profits on increased demand as more Americans opt to buy their own home. Listen for news on -- arts plans to acquire more land this year. And at number -- your top story for next week. Stock markets worldwide -- their worst weekly performance since November investors need to go into this week wary. A potential summer sell interest rates spiking and pressure is building for banks to curb rampant in formal and but many analysts are saying the best way to hedge against rising rates is to get into stocks and JPMorgan Tom Lee says now is the time to do. This pullback -- Be -- meaning people only to put the money to work because by the -- if they think we're going to be at least at 1715. Or higher in the S&P 500. The SMP rebounding little finishing up estimates the index finished down 3% for the week. Follow us on Twitter at Twitter is insider and get more of our videos add Reuters dot com slash ratings TV I'm holiday mom this. -- --
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