The Week Ahead: Excessive Risk Unlikely
Last week the S&P 500 fell 0.4%, bringing that index's quarter-to-date and year-to-date returns to 7.2% and 16.1%, respectively. As this move suggests, it was a mixed week in terms of news flow. We saw several positives, including stronger-than-expected earnings from KB Home (KBH), General Mills (GIS) and several others, as well as favorable housing data in the form of August housing starts and existing-home sales. All of these metrics, however, were offset by a number of disappointing headlines.
These disappointments included FedEx (FDX), which said the global economy remains weak, and which provided a weaker view on 2012 earnings than what had been expected. Elsewhere, Norfolk Southern (NSC) cut its outlook, citing weak coal and merchandise demand, and MasterCard (MA) warned of slower revenue growth ahead....862 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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