Biz Buzz: A daily update on economic and business news
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Be careful what you wish for. Last week, the stock market rallied on growing evidence that the economy is slowing. This means that the Federal Reserve may not have to raise interest rates again to keep inflation under control. But could the economy be cooling too quickly? Several key reports are due out this week that should give Wall Street a clue about economic deceleration.
Monday, July 31:
CHICAGO PMI: Though the Chicago purchasing managers'index is a gauge of factory activity in the Midwest, it often foreshadows trends in the national manufacturing economy.
EARNINGS TO WATCH: Avon Products, Principal Financial Group, Simon Property Group, Tyson Foods, UAL, and Whole Foods Market
Tuesday, August 1:
AUTO SALES: This morning, the Big Three automakers are to report their latest monthly sales figures.
PERSONAL INCOME: With the economy cooling and inflation heating up, all eyes are on the consumer. This morning, the Commerce Department will release new figures on household income and spending in the recently ended second quarter.
ISM INDEX: The Institute for Supply Management will release the latest findings of its closely followed manufacturing index, which gauges the health of the nation's factory sector.
EARNINGS TO WATCH: Archer Daniels Midland, Burger King, Deutsche Bank, Eastman Kodak, Electronic Arts, Electronic Data Systems, Hilton Hotels, International Paper, Marathon Oil, Time Warner Telecom, Verizon, Vornado Realty Trust, and Wynn Resorts
Wednesday, August 2:
EARNINGS TO WATCH: Automatic Data Processing, Cadbury Schweppes, Cigna, Clorox, Credit Suisse Group, Dean Foods, Procter & Gamble, Prudential Financial, Sotheby's, Starbucks, Sunoco, and Time Warner
Thursday, August 3:
ISM SERVICES INDEX: Today, the Institute for Supply Management will unveil the latest findings of its nonmanufacturing index, which tracks the health of the nation's service sector.
EARNINGS TO WATCH: Aon, Chiquita Brands, CVS, Duke Energy, MGM Mirage, Progressive Corp., Sprint Nextel, Unilever, Warner Music Group, and WebMD Health
Friday, August 4:
JOBS REPORT: How quickly is the economy really cooling? A quick way to tell is to see if the nation's employers have slowed the hiring of new workers. This morning, the Labor Department will release data on job creation in July.
EARNINGS TO WATCH: British Airways, Peoples Energy, Royal Bank of Scotland Group, Washington Post Co., and Toyota Motor
