Good morning, on this the 342nd day of 2004. This morning’s retail sales report for the last week of November showed softness in the sector; according to some analysts this matches a pattern noted last year and stronger sales may be ahead1.
Regardless, I’ve noted that only the retail drug store sector, and to a lesser extent retail foods, are still pointing up – all the others including broadline, specialty, apparel – are in down swings and in danger of starting new down trends.
US Market Calendar
- 7:45 am: ICSC-UBS Weekly Chain Store Sales for the week ended Dec. 4
- 8:30 am: Productivity and Costs
- 8:55 am: Johnson Redbook Retail Sales Index for the week ended Dec. 4
- 10:00 am: Challenger Job-Cut Report
- 3:00 pm: Consumer Credit
Canadian Market Calendar
- 9:00 am: Bank of Canada Policy Announcement
Earnings and the Federal Reserve
For earnings highlights, please see today's WSJ Earnings Calendar.
For a list of upcoming speeches, congressional testimony, Federal Open Market Committee material, and statistical releases, please visit the What's Next page of The Federal Reserve Board website. Recently released Federal Reserve Board material, including market moving FOMC decisions and speeches by members, will be found on their What's New page.
1 Chain Store Sales Slip in Latest Week
04.12.07 09:03 #