Getting a Grip on Retail
As we enter the back half of August, the economic and corporate reporting is beginning to slow down, becoming almost molasses-like compared with the pace of recent weeks. But it would be a mistake to equate that slowing velocity with irrelevance. The company reports set for this week will clue us in to the mindset of the consumer as we hear from a number of retailers, including Urban Outfitters (URBN), Best Buy (BBY), DSW (DSW), Shoe Carnival (SCVL) and others.
We'll also get the latest behind-the-scenes scoop from the last Federal Reserve Open Market Committee meeting. In my view, that will be a near non-event, as most of the financial community is waiting for the group's September meeting. The telling news this week will be Markit Economics's purchasing managers' indices for China, the eurozone and the U.S. All of those readings are expected Thursday. More bad news here will likely be interpreted as even more good news by traders, as it would seem to indicate improving prospects for forthcoming stimulus in China, as well as for European Central Bank aid for the eurozone....370 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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