Dow Live Report week starts wednessday
The week starts with a sideways crawl as investors await a number of reports coming in starting this wednessday. My take on this is that they may be weaker than expected. Time will tell.
On another note, AIG pushed financial shares higher on having closed a deal to let MetLife Inc aquire Alico for 15.5 billion dollars. This is part of the American International Group´s plan to tighten the belt, trim some fat and initiate repayments of up to 100 billion dollars it owes in TARP funds from the government.
The Fed is commencing sells of securities from its portfolio with an agreement to buy them back later. The reverse repurchase agreements were forst announced by The Fed in October 2009 and now that “the crisis is over” are coming to effect. A bit premature if you ask me.
Wednessday is the big day. Keep an eye on the wholesale and business inventories, retail sales and consumer sentiment that may have resounding impact on the market if the come in low.
Related posts:
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- Market week: Dow slides back without surprise
- Slow start on another bumpy week for the Dow
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