Search

Earnings and Bernanke Testimony to Drive Markets

by devteam July 20th, 2009 | Share

 

Data releases this week are light but on Tuesday markets will hear biannual testimony on monetary policy from Ben Bernanke, chairman of the Federal Reserve. Bernanke will speak before the House on Tuesday and repeats his testimony to the Senate on Wednesday, but each day offers a new Q&A. 

Analysts aren’t expecting the chairman’s speech to be groundbreaking, but the Q&A could offer commentary on the central bank’s policy of purchasing treasury notes, plus some elucidation on the Fed’s exit strategy from the massive policy response to the financial crisis.

“Expect a robust defense of Fed policy from Mr. Bernanke, but don’t expect him even to hint that the Fed is thinking about reversing any of its measures,” said Ian Shepherdson, chief US economist from High Frequency Economics.

Investor sentiment is positive, though cautious, after a week that saw markets gain over 7%, a big jump following a two-week slump. The bounce was driven more by earnings than macroeconomic data, and this week could be similar considering the lack of market-shaking data.

Q2 earnings expected this week include: American Express, Boeing, Caterpillar, and Merck & Co. Markets will also see earnings from Amazon, Apple, Coca-Cola, eBay, PepsiCo. and Starbucks.

Key Releases This Week:

Monday:

10:00 â€

About the Author

devteam

Steven A Feinberg (@CPAsteve) of Appletree Business Services LLC, is a PASBA member accountant located in Londonderry, New Hampshire.

See all blogs
Share

Comments

Leave a Comment

Leave a Reply

Latest Articles

Real Estate Investors Skip Paying Loans While Raising Billions

By John Gittelsohn August 24, 2020, 4:00 AM PDT Some of the largest real estate investors are walking away from Read More...

Late-Stage Delinquencies are Surging

Aug 21 2020, 11:59AM Like the report from Black Knight earlier today, the second quarter National Delinquency Survey from the Read More...

Published by the Federal Reserve Bank of San Francisco

It was recently published by the Federal Reserve Bank of San Francisco, which is about as official as you can Read More...