Lots of news today to compete for your time. Inflation is at a 17 year high (New York Times has a great write). Foreclosures are up from last month, with the "wow" number being 183% up from last year (CNNMoney.com has the best write on that). However, Why You Care notes that as horrible as that number is, as you read the story you again see that it is market to market.
So what's next week going to look like? We've got a window and it looks like more stories about inflation as it relates to retail and a report on the number of new homes built will be a reason to revisit the foreclosure numbers.
Here's Why You Care: As we noted last week when we posted Next Week's News Today, business like politics is often a game of expectations. With the bad news on inflation and foreclosures today, the stories next week will either be a) the sequel to that; or b) if there's any hint of good news then it will be treated as something of a rebuttal.
What's going to happen next week falls perfectly into that framework. Lots of retail oriented companies are due to report their earnings. Plus, the Producer Price Index, the PPI, (which tracks how much those who make things get paid for them) is set to report on Tuesday. It makes sense then that those will be threads of stories.
And the double whammy? Housing starts will be out on Tuesday. In other words, data on new construction of homes. You are probably thinking, well, that's got to be incredibly low. That makes sense, but then we've both just set an expectation right?
Here's Next Week's News Today:
Monday August 18
Earnings: Perry Ellis and Lowe's
Tuesday August 19
Economic Reports: Housing Starts/Building Permits and the Producer Price Index (PPI)
Earnings: Home Depot, Saks and Target
Wednesday August 20
Economic Reports: Crude Inventories
Earnings: Longs, Limited, Ross Stores, BJ's Wholesale and Phillips-Van Heusen
Thursday August 21
Earnings: Dick's Sporting Goods, Barnes and Noble, Foot Locker, bebe stores, Burger King, Cost Plus and Pacific Sunwear
Friday August 22
Earnings: AnnTaylor
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...because you shouldn't need a decoder ring to understand the business pages.
Why You Care...
In order to understand how the tug of war over money, power and land between Capitol Hill and Wall Street impacts your life you MUST understand the business pages. But, sometimes trying feels like you need a decoder ring. That's where we come in: We are at once - a veteran journalist, and a long time professor of finance and real estate law. This is our journalistic and academic effort to explain why you care about the complexities of Washington and Wall Street by highlighting solid reporting and decoding the business pages along the way.
Why WE Care
Tom Kaufman combines two perspectives: 20 years as an adjunct law professor at Georgetown, along with a Wharton MBA. He currently serves as the Capital Markets and Real Estate Finance Committee Chairman for the American College of Real Estate Lawyers.
Christian Hudson spent over a decade producing for CNN - most recently as a Senior Producer for the Situation Room. He now practices finance and real estate law and writes about money, power, land and politics.
Yes, we work for a big firm and for transparency sake we've linked our names above to our bios, but this is our own website and the opinions expressed here are strictly ours.
Christian Hudson spent over a decade producing for CNN - most recently as a Senior Producer for the Situation Room. He now practices finance and real estate law and writes about money, power, land and politics.
Yes, we work for a big firm and for transparency sake we've linked our names above to our bios, but this is our own website and the opinions expressed here are strictly ours.
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Disclaimer:
Posts on this Website have been written and displayed for informational purposes only and are not legal advice. The transmission of the Website, in whole or in part, and/or any communication with us via Internet e-mail through this site, does not constitute or create an attorney-client relationship between us or our law firm and any recipients.
No recipients of content from this Website should act or refrain from acting on the basis of any content included in the site without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from an attorney licensed in the recipient's state.
The content of this Website contains general information and may not reflect current legal developments, verdicts or settlements. We and our law firm expressly disclaim all liability in respect to actions taken or not taken based on any or all the contents of this Website.
Please do not submit any confidential information. Any information submitted to or through the Website is not secure and is done so on a non-confidential basis.
Posts reflect the personal opinions of the authors, and are not the views of any past or present employer or institution with which the author may be affiliated.