Tuesday, May 29, 2012
The focus this week likely will remain on the home front as a
slew of market moving economic reports come out, particularly on
the last two days of this holiday-shortened week. But Europe will
not be far from investors' minds either as concerns about the
Spanish government's ability to manage the country's banking sector
remain center stage. With respect to Greece, while opinion polls
appear to show some of loss of momentum in public support for the
anti-austerity Syriza party, it may be premature to extrapolate
those to the national vote on June 17th.
On the docket today, we have the March Case-Shiller Home Price
Index and the Conference Board's Consumer Confidence survey for May
coming out. There is growing evidence that housing prices are
stabilizing and consumers have started feeling better about their
economic prospects due to the improving jobs market. We will be
getting plenty of details about the state of the labor market this
week, with the all-important May non-farm payroll report coming out
on Friday.
Following the disappointing jobs reports in the preceding two
months, the reading this Friday will either confirm a loss of
momentum in the labor market or prove those two monthly reports as
merely outliers. Jobs aside, we also have a number of other
market-moving releases on the docket this week, all clustered in
the last two days of the week. These include the second look at the
first quarter 2012 GDP, the manufacturing ISM survey, the Personal
Income & Outlays report, and the Construction Spending
reading.
In corporate news,
Sanderson Farms
(
SAFM
), the poultry processor, came out with better than expected
quarterly results this morning. In
Facebook
(
FB
) news, there are reports indicating that the company may be
planning to acquire the maker of Norway-based Opera Software, a web
browser.
Sheraz Mian
Director of Research
FACEBOOK INC-A (FB): Free Stock Analysis Report
SANDERSON FARMS (SAFM): Free Stock Analysis
Report
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