Market Features
Economic Data Streams In
Several economic releases for February are due out during the week. Reports on retail sales, the Treasury budget, and import and export prices for last month will all come due, in addition to releases on weekly jobless claims, business inventories and the trade balance for January, and the March read on consumer sentiment from the University of Michigan. In addition, Federal Reserve Chairman Ben Bernanke will once again travel to Capitol Hill, this time appearing Tuesday before the Council on Foreign Relations to discuss financial reform and systematic risk. Bernanke made headlines in the past week when he told the Senate Budget Committee that no other bailout has made him "angrier" than that of embattled insurance giant American International Group(AIG), which received another handout from the U.S. government on Monday worth $30 billion. "We're looking for a little bit more guidance from Bernanke this week," Lydon said. "There needs to be some trust. If things are bad, let everyone know. If you don't know how bad things are, say it. Just saying that you're angry doesn't cut it."Earnings Flood Subsides
The earnings calendar is fairly light over the next five sessions, with apparel retailers accounting for a bulk of the quarterly earnings reports. Aeropostale(ARO), Hot Topic (HOTT), J. Crew(JCG), American Eagle(AEO), Bon-Ton Stores(BONT) and Dick's Sporting Goods(DKS) are all out with results during the week. JA Solar (JASO), video game maker Take-Two(TTWO), Smith & Wesson (SWHC) and Staples (SPLS), among others, are also expected to report earnings next week.Approaching Quarter End
The end of next week only marks the midpoint of March, but market analysts say that investors should be wary about the end of the first quarter. It's no secret that earnings are expected to be dismal given the economic problems that have continued to burn companies over the last few months. "Nobody is talking about first-quarter earnings yet and how dire they are going to be," Lydon said. "Even looking just a few weeks out, investors will need to start factoring this in. It compounds the negative news for the market."![]() |
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
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| 12,393.45 | 1,310.33 | 2,827.34 | 15.81 |
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10.02 |
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0.44 |
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151.62
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