The Week Ahead: Fed Weighs In With Beige Book, Alcoa Kicks Off Earnings
This week, corporate earnings re-enter the conversation as companies report their third quarter numbers. A growth slowdown in China, Europe’s recession and fiscal challenges are likely to affect international revenue for the large multinational companies.
In addition, the third-quarter earnings season has expectations to be the worst season since 2009’s fourth quarter when the country was slowly leaving the recession, reported MarketWatch.
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Alcoa Inc. (NYSE:AA) will kick things off on Tuesday with its report after the bell and on Friday, banking’s earnings will dominate headlines.
Over in China after its holiday week, the People’s Bank of China will release its September financial statistics late in the week. Eyes will be on September’s new loan growth numbers. This should offer a picture on whether additional easing measures are coming.
On Tuesday, the International Monetary Fund will release its World Economic Outlook during its week-long annual meeting taking place in Tokyo.
From Europe, its finance ministers will likely tell the United States to get its fiscal problems together at the fiscal cliff meeting at Thursday’s G7 meeting in Tokyo.
Let’s take a look at the week ahead.
Tuesday: September NFIB Small Business Index
Wednesday: Federal Reserve’s Beige Book, August Wholesale Inventories and August Job Openings & Labor Turnover
Thursday: Weekly jobless claims, August U.S. trade deficit, September import prices, September Federal Budget
Friday: September Producer Price Index and October Reuters/UMich Consumer Sentiment
Monday: Angio Dynamics (NASDAQ:ANGO)
Tuesday: Alcoa Inc. (NYSE:AA), Yum Brands Inc. (NYSE:YUM)
Wednesday: Costco (NASDAQ:COST), The Progressive Corporation (NYSE:PGR), Ruby Tuesday, Inc. (NYSE:RT)
Thursday: J.B. Hunt Transport (NASDAQ:JBHT), Safeway Inc. (NYSE:SWY), Winnebago Industries, Inc. (NYSE:WGO)
Friday: Wells Fargo (NYSE:WFC), J.P. Morgan Chase (NYSE:JPM)
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