Buyout Talk Puts Yahoo!'s Yang on the Spot
Traders will have a busy session Tuesday, one that's full of earnings and economic data, while featuring the start of the first Federal Open Market Committee meeting of the year. Among earnings, reports are due from 3M ( MMM), Cardinal Health ( CAH), Dow Chemical ( DOW) and Eli Lilly ( LLY). EMC ( EMC), JetBlue ( JBLU), Travelers ( TRV), U.S. Steel ( X) and Yahoo! ( YHOO) are also expected. Meanwhile, the first day of a two-day Fed meeting on rates will take place. When the meeting concludes Wednesday, the central bank is expected to announce that it has elected to again cut interest rates, probably by 50 basis points. On the economic calendar, durable-goods orders from the Census Bureau and the consumer confidence index from the Conference Board will be out, along with two weekly reports on retail sales, one from the International Council of Shopping Centers and UBS and the other from Redbook Research. On TheStreet.com, Vishesh Kumar will preview Yahoo!'s earnings that are due after the close, and personal-finance guru Jeffrey Strain will offer some tips on preparing for a potential recession.