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We値l Find Out Why the Fed Cut This Week |
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Monday, 08 October 2007 |
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By Rick Pendergraft
Tomorrow morning we’ll find out what the Fed discussed at last month’s meeting and why they chose to cut both the Fed funds rate and the discount rate. The minutes from that meeting will be released at 2:00 pm tomorrow afternoon.
When the announcement was made, the market soared and continued to climb for the next three weeks. You may recall that the Fed’s extreme move caused me to become more cautious and I think we are about to find out why.
Another big report for the week will come out on Friday, when retail sales for September are released. This will be the first full month that was affected by the credit situation, but analysts are expecting the numbers to be only slightly lower than August. We shall see.
The last big announcement for the week is the Producer Price Index for September. After a decline in August of 1.4 percent, analysts expect the PPI to show a slight rise (0.4 percent).
Date | Time (ET) | Statistic | For | Market
Expects | Prior | 9-Oct | 2:00 PM | FOMC Minutes | 18-Sep | - | - | 10-Oct | 10:00 AM | Wholesale Inventories | Aug | 0.20% | 0.20% | 11-Oct | 8:30 AM | Trade Balance | Aug | -$59.0B | -$59.2B | 11-Oct | 2:00 PM | Trsy Budget - may be delayed | Sep | $100.0B | $56.2B | 12-Oct | 8:30 AM | Retail Sales | Sep | 0.20% | 0.30% | 12-Oct | 8:30 AM | Retail Sales ex-auto | Sep | 0.30% | -0.40% | 12-Oct | 8:30 AM | PPI | Sep | 0.40% | -1.40% | 12-Oct | 8:30 AM | Core PPI | Sep | 0.20% | 0.20% | 12-Oct | 10:00 AM | Business Inventories | Aug | 0.30% | 0.50% | 12-Oct | 10:00 AM | Mich Sentiment-Prel. | Oct | 84 | 83.4 |
Source : Investors Daily Edge
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