The U.S. equity markets are closed on Monday in honor of Martin Luther King, Jr. Day. Investors are free to take a break, come up for air, and look ahead to this week’s battery of big earnings reports.
Perhaps the most-watched report this week will be Apple’s (NASDAQ:AAPL) post-market earnings release on Wednesday. On average, Wall Street is looking for profit to drop 3.1 percent year over year to $13.44 per share. Revenue, on the other hand, is expected to climb nearly 18 percent to $54.6 billion. The company is entering its first-quarter earnings with tremendous top-line momentum but a negative slope on the stock chart. Shares are currently trading at about $500.00, down 21 percent over the past 3 months… (Read more.)
1) Top Federal Reserve policymakers believed, in the months leading up to the recession, that problems with the housing industry in 2007 were isolated and non-threatening to the U.S. economy.
New reports issued this week show U.S. Treasury Secretary Timothy Geithner, then-president of the New York Federal Reserve Bank, believed the symptoms banks were showing, such as lack of funds, were normal and that Wall Street was still doing fine… (Read more.)