Numerous Economic Reports Due Tomorrow
Don't have much time tonight - just got home from my daughters choir concert (voice like an angel) and still have much to do before calling it a night.
Well the fed and PPT pulled out their big guns today - announcing that they would buy stakes worth $ 250 BILLION in US banks. The markets yawned and closed in the red.
So, what should tomorrow hold?
I expect tomorrow to very interesting as numerous economic reports trickle in throughout the morning/afternoon and people finally awake to the realization these bailouts wont work.
- Data for Retail Sales, Producers Price Index (PPI), Core PPI and NY Empire State Index are all due in at 08:30 EST tomorrow.
- Business inventory data is due at 10:00
- Crude Inventories at 10:35
- Fed's Beige Book due out at 14:00
As I pen this quick message, Asian markets are in the Red and US futures for tomorrow's open are following suit.
Keep your powder dry.