Ahead of Wall Street - September 11, 2012 - Ahead of Wall Street

By
A A A

Tuesday, September 11, 2012

We will likely see another calm trading session today ahead of a number of market-moving developments on deck for the rest of the week. The most important of these upcoming developments is the Fed announcement on Thursday after the two-day FOMC meeting. Wednesday brings the German Constitutional Court ruling on the constitutionality of the European Stability Mechanism, the 500 billion euros permanent Euro-zone bailout fund. The Dutch parliamentary elections on Wednesday are expected to bring a Euro-zone friendly government in power.

The Fed is widely expected to come through with another round of bond purchases on Thursday, even though most serious people doubt the move's relevance to current ground realities. The stock market loves more monetary stimulus and has been pushing higher all summer in anticipation of more Fed support. But QE3 will do little to improve the nation's economic fortunes as monetary conditions already remain quite favorable. In fact, the expected launch of Apple's ( AAPL ) iPhone 5 on Wednesday may have more positive impact on consumer spending in the final quarter of this year than anything the Fed could come up with on Thursday. The issues facing the U.S. economy are beyond the Fed's control, be they domestic fiscal uncertainties or international growth questions.  

In corporate news, McDonald's ( MCD )  August same-store sales numbers came in modestly lower than expected, with weakness in the U.S. and Europe getting offset by strength elsewhere.  The fast-food chain's August comps represented a rebound from July, which was the weakest in nine years. In other news, Casey's General Stores ( CASY ) came out with better than expected quarterly results.

Sheraz Mian
Director of Research


 
APPLE INC (AAPL): Free Stock Analysis Report
 
CASEYS GEN STRS (CASY): Free Stock Analysis Report
 
MCDONALDS CORP (MCD): Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research
 
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Stocks , US Markets

Referenced Stocks: AAPL , CASY , MCD

Zacks.com

Zacks.com

More from Zacks.com:

Related Videos

Stocks

Referenced

Most Active by Volume

112,007,213
  • $14.79 ▼ 2.12%
79,492,830
  • $17.05 ▲ 0.24%
63,236,947
  • $56.63 ▲ 7.54%
55,553,482
  • $3.41 ▼ 3.94%
53,662,885
  • $14.19 ▼ 3.47%
52,606,858
  • $100.75 ▲ 0.64%
39,074,810
  • $4.84 ▼ 2.22%
38,681,912
  • $25.62 ▲ 0.79%
As of 9/30/2014, 04:15 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com