Signs of Continued Economic Recovery Sparks Cautious Optimism
In the week ahead, following a slow start on Monday, Tuesday brings government reports on wholesale retail results, as well as the producer price index (PPI) and core-PPI for November. Corporate news for Tuesday include quarterly result from BestBuy and Hovnanian. The Federal Reserve will release its policy statement in the afternoon, where it is anticipated that interest rates will be held at the close to 0 percent level currently in operation. Reports due on Wednesday include the US consumer price index, a major inflation indicator, as well as the empire manufacturing survey, along with data provided by the government regarding industrial production and the level of capacity utilization. The weekly report for initial jobless benefits claims and initial single family homes construction figures are due on Thursday. Quarterly results are expected from FedEx, General Mills and Research in Motion on Thursday. Friday winds down the week with a reading for November’s leading economic indicators.