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As the critical holiday shopping season winds down this week, several key retailers are expected to release their earnings results. And watch out for Friday's consumer confidence report, which should offer a hint of how enthusiastically shoppers hit the malls this season.
Monday, December 18:
EARNINGS TO WATCH: Oracle and Piedmont Natural Gas
Tuesday, December 19:
WHOLESALE INFLATION: The Labor Department will release the November results of the producer price index, a key gauge of inflation at the wholesale level. Recent PPI reports have shown that inflation is under control, but the Federal Reserve's monetary committee recently observed that "some inflation risks remain" in the economy.
HOUSING STARTS: The Commerce Department will report on November housing starts. With demand for real estate cooling, expect another drop in the number of new-home projects started.
INVESTOR CONFIDENCE: State Street will release the latest results of its investor confidence index, which attempts to gauge the mood of investors based on the types of assets being bought and sold.
EARNINGS TO WATCH: Circuit City Stores, Darden Restaurants, Morgan Stanley, and Palm
Wednesday, December 20:
EARNINGS TO WATCH: 3Com, Bed Bath & Beyond, Family Dollar, FedEx, and Nike
Thursday, December 21:
ECONOMIC GROWTH: The Commerce Department will release its final assessment of economic growth for the third quarter. A preliminary report showed that gross domestic product, the broadest measure of economic growth, expanded at an annual rate of 2.2 percent in the July-through-September period. That was slower than in recent quarters but still better than expected.
LEADING ECONOMIC INDICATORS: The Conference Board will announce the latest results of its closely watched index of leading economic indicators, which attempts to gauge future economic activity.
EARNINGS TO WATCH: American Greetings, Carnival, ConAgra Foods, General Mills, Red Hat, Research In Motion, and Rite Aid
Friday, December 22:
CONSUMER SENTIMENT: The University of Michigan's report on December consumer confidence will reflect the mood of holiday shoppers.
