U.S. Week Ahead: Once more into the breach goes Bernanke
Friday, July 05, 2013 - 03:19
July 5 - Fed chairman Ben Bernanke makes his first speaking appearance since he stunned investors and markets with his taper talk almost three weeks ago. The strong jobs report could support tapering sooner.
▲ Hide Transcript
▶ View Transcript
You might still be in celebration about after the US July 4 fireworks and June jobs numbers -- wanna get you ready for the top three economic events coming next week. At number three let's start out with consumer retail earnings discount retailer Family Dollar reports Q3 earnings Wednesday. Sterne -- and Deutsche Bank recently cut their price target on the stock Sterne -- ranks at a neutral while Deutsche Bank has as a by. Analysts expect earnings per share of dollars three down from the last quarter at a dollar 21. Consumer discretionary spending continues to face pressure this year we may see evidence of this when young brands reports its Q2 results Wednesday. Goldman Sachs reiterated a neutral rating on the stock Jeffries is a hole and UBS upgraded shares from neutral to buy -- Reuters polls show earnings per share of 54 fat compared to 67 cents a year ago. Alcoa starts reporting season op after the bell on Monday with its Q2 results. Next the first of the big banks reports earnings. JPMorgan Chase the largest US bank by aspect is releasing second quarter fiscal when he thirteen results on Friday. This is the first release after the big shareholder showdown in May keeping CEO Jamie diamond as chairman of the board also. Investors are eagerly watching how you'll continue to manage both roles. Reuters estimates earnings for shared comment at a dollar 438 compared to a dollar 21 for the same period last year. Second quarter revenues are projected to be 24 point eight billion dollars the stocks up 18% so far this year. Another big US banks Wells Fargo reports second quarter fiscal when it thirteen earnings on Friday. It's the largest US home lender with the increase in mortgage rates in June this'll be the first earnings report for investors to scrutinize those facts -- revenues. Earnings per share is forecast -- 92 cents on revenue of about 21 billion dollars compared to last year's earnings per share of 82 cents on similar revenues. Wells Fargo's stock is up 17%. For the year. And your number one story is the Fed. Mark your calendar fed chair Ben Bernanke speaks on Wednesday a few hours after minutes from the latest apple has seen meeting are released. The last time he spoke his comments confuse the market and despite buying meals. Investors will be listening for clarity on the direction of monetary policy and whether the Fed will begin tapering in September. US job growth was stronger than expected in June and the numbers for the past two months were revised upward. This shows the economy is improving and likely keeping them back on track to cut back its stimulus. You can watch Bernanke's speech live on Reuters Insider Wednesday at 4:10 PM. Also coming out next week is consumer credit initial jobless claims. And the preliminary Reuters University of Michigan sentiment index they'll all give more direction on the strength of the US economy. Follow us on Twitter and Reuters Insider and get more videos and Reuters dot com slash writers -- I'm should try not bad this is Reuters.
Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code