So, if it's Thursday (yes, it is Sunday, we're that late), then it's time for Next Week's News Today where we publish our own futures calendar of earnings, reports, hearings and political events which will either drive the news, or deserve more attention. Last week we were correct to point out that the stimulus package and its details would be the under current for the news coming off Capitol Hill. It was easy and obvious for us to say that Treasury Secretary nominee Timothy Geithner's confirmation hearing would generate media attention, but we were also spot on for the economic reports and earnings which we highlighted.
This coming week Capitol Hill will be where Wall Street focuses, and thus, you should too, for good reason… There are nine Congress/economic related items on our calendar for this coming week. Nine. The headline is that you are going see lots, and lots, and lots of trial balloons and posturing over the stimulus package. Keep in mind one thing: Democrats would like to have the stimulus package on President Obama's desk by Friday, February 13. That means Capitol Hill will be a hive of activity.
The other economic story off Capitol Hill which will get a fair amount of press is the House Judiciary Cmte.'s bill to change bankruptcy rules for home owners regarding adjusting their mortgages (1/27).
Of note, the Mortgage Bankers Assoc. holds a briefing tomorrow looking at their mortgage and housing forecast - something reporters will want to look at.
Also of note this week is the confirmation vote for Treasury Secretary nominee Geithner (1/26), and the Senate Judiciary votes on Eric Holder's Attorney General nomination. Both will obviously get media attention. We do caution that you check back to WhyYouCare.com for updates on scheduling.
Here's why you care about next week's trends in earnings and reports:
Earnings: Lost of regional financials below reporting through out the week. Look for articles examining how regional banks are doing, especially the ones who have received cash injections from the Treasury Department through the TARP (the Troubled Asset Relief Program).
Interesting Earning Story: Yahoo! (1/27) - Given the on going story with the company and Microsoft.
Reports: Existing home sales (1/26), employment stats (1/27), unemployment stats, new home sales, and mortgage rate stats (1/29) will get ink this week.
Notable events: The FOMC (the Fed's monetary policy setting group) meets 1/27-28, and this garner much attention.
As always notable earnings, events, and reports are below:
MONDAY 1/26 Earnings: American Express; Amgen; Bank of Hawaii; BGC Partners; Caterpillar; First Commonwealth; Halliburton; Heartland Financial; McDonald's; Netflix; Old National Bancorp; Private Bancorp; Texas Instruments; Tysons Foods; Zions Bancorp
Reports: Existing Homes Sales (for Dec.); Leading U.S. Economic Indicators (for Dec.)
Briefing: Mortgage Bankers Assoc. (MBA) holds briefing to discuss 3 year economic/mortgage/housing forecast.
Geithner Confirmation: Expected Senate vote on Treasury Secretary nominee Timothy Geithner's confirmation.
TUESDAY 1/27
Earnings: Bristol Myers; Calamos Asset Management; Callaway Golf; Colonial Bancgroup; Dupont; Energizer; E Trade; First Merit Corp; First Service Corp; Hershey Foods; New Alliance Bancshares; New York Community Bancorp; Norfolk Southern; Pepsi Bottling; Prosperity Bancshares; Seacoast Banking; Siemens AG; South Financial Group; Stancorp Financial Group; Sterling Financial; Sun Microsystems; U.S. Steel; Verizon; Yahoo!
Reports: Consumer Confidence (for Jan.); Bureau of Labor Statistics releases industry data on employment (hours and earnings).
Fed Meeting Day 1: FOMC meeting starts (FOMC - This is the part of the Fed that sets monetary policy).
Senate Appropriations Cmte. Mtg.: Economic Stimulus Package mark up.
Senate Finance Cmte. Mtg.: Economic Stimulus Package mark up.
Senate Banking, Housing and Urban Affairs Cmte. Mtg.: Role of federal regulators in Madoff Investment Securities case.
House Budget Cmte. Mtg.: Examines the economy and budget. Witnesses include: Douglas Elmendorf, Congressional Budget Office; Alice Rivlin, Brookings Institution; Mark Zandi, Moody's Economy.com
House Judiciary Cmte. Mtg.: Mark up of bill - Helping Families Save Their Homes in Bankruptcy Act of 2009 (HR 200).
WEDNESDAY 1/28
Earnings: Affiliated Managers; Airtran Holdings; Ameriprise Financial; AT&T; BOK Financial Corp.; Boeing; Boston Properties; Cabot; Cohen & Steers; ConocoPhillips; Franklin Resources; General Dynamics; Hess; KKR Financial; Lazard; Legg Mason; New York Times; Novartis; Philip Morris International; Qualcomm; Regis; SAP AG; Southern Co.; Starbucks; Susquehanna Bank; Wellpoint, Wells Fargo; Whitney Holding
Fed Meeting Day 2: FOMC meeting concludes (FOMC - This is the part of the Fed that sets monetary policy) - rate news change (if any) would come on this day (currently at 0-.25%).
House Floor: May take up economic stimulus package.
Senate Budget Cmte. Mtg.: Examines housing and financial crisis (federal response). Witnesses include: Douglas Elmendorf, Congressional Budget Office.
Senate Judiciary Cmte. Mtg.: Votes on Eric Holder's Attorney General nomination.
Political Event: Republican National Committee (RNC) holds winter meeting, 1/28-1/31.
THURSDAY 1/29
Earnings: 1-800-Flowers; 3M; Alaska Air; Amazon.com; Astoria Financial; Black & Decker; Colgate-Palmolive; Continental Air; Eastman Kodak; Eli Lilly; Ethan Allen; Ford Motor; Gentex; Jetblue; MBIA Inc.; NASDAQ; Newell Rubbermaid; Occidental Petro; PepsiAmericas; Provident Financial; Raytheon; Royal Caribbean; SEI Investments; Sony; Starwood Hotels; T. Rowe Price; Under Armour; US Airways
Economic Reports: Initial Unemployment Claims (for 1/24), New Homes Sales (for Dec.); Federal Home Loan Mortgage Corporation (Freddie Mac) releases its weekly data regarding mortgage rates.
Senate Budget Cmte. Mtg.: Examines the global economy (outlook and risks).
Event: National Economists Club holds "Responding to a Tough Economic Assignment" discussion on the White House, Congress and the economy. Guest: Alice Rivlin, Brookings Institution.
FRIDAY 1/30
Earnings: Chevron; Exxon Mobil; Gannett; Gramercy Capital; Honeywell; Invesco; MB Financial; Overstock.com; Procter & Gamble; Wilmington Trust
Economic Reports: GDP (Gross Domestic Product for the 4th Quarter of 2008); Federal Reserve releases info on US commercial banks' assets and liabilities.
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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.