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Econ Data and Earnings to Move Money
The week begins slowly with no news Monday morning and only the monthly budget in the afternoon, but the week’s highlight, Retail Sales, is posted an hour before the opening bell on Tuesday. Other highlights include PPI and CPI, Industrial Production, and minutes from the latest FOMC statement.rnrnIn Real Estate, the major news will be Friday’s Housing Starts report, but don’t get too excited: analysts are expecting construction projects to remain at low levels.
Mid-Day Recap: Markets To End Week 2-3% Lower
Markets opened higher on Friday after the Trade Balance for May hit a ten-year low, but when a Consumer Confidence report wiped away the previous three months of gains, all three markets fell into the red. Treasury Secretary Tim Geithner didn’t appear to have eased concerns as he called for increase regulation.rn
G8 Recap: Rich Nations to Increase Aid; No Consensus on Climate Change
The Group of Eight three-day summit concluded today with mixed results. The rich nations failed to agree on long-term goals for climate change, but they pledged a greater amount of money for agricultural support in poor countries.rnrnMembers of the G8 pledged to spend $20 billion, $5 billion more than expected, over three years to spur investment in agriculture in poorer nations.
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