So, if it's Thursday (ok, so it's Friday) 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 a few choice economic reports that would drive both the market and coverage (think unemployment and retails sales), and we were correct to say that the Obama administration's stimulus package would be the backdrop and context of the reporting.
This coming week look for not only the stimulus package to be an undercurrent for all the economic reporting out of Washington, DC, but also the House Financial Services Committee's hearing on Tuesday examining the use of TARP funds for the next administration. Why? Today Chairman Barney Frank released an outline of a proposed bill to amend all the programs under TARP. The financial community will be watching, and you should be too.
Here's why you care about next week's trends in earnings and reports:
Earnings: We note that the financial institutions' earnings below, and Intel, offer news pegs to examine how those who handle money are doing, and how tech stocks are doing.
Reports: The Beige Book is out 1/14 (ie - the Fed's report on the economy) and will be closely examined, while retail sales (1/14) and unemployment (1/15) will also get and deserve ink.
Notable events: Eric Holder's Attorney General confirmation hearing was moved from this week to 1/15 and will likely be the focus of political coverage. But, that shouldn't mean you should overlook the National Press Club speeches on 1/13 and 1/15, economic reporters will care.
As always notable earnings, events, and reports are below:
MONDAY 1/12
Earnings: Alcoa; Charles Schwab; M&T Bank.
Hearings: House Financial Services Committee holds a hearing titled "The Madoff Ponzi Scheme and the Need for Regulatory Reform," 2p ET.
Dueling Events: AEI & Brookings
AEI, 10a ET: "Responding to the Recession: Exploring the Stimulus Options." Check out the panelists here.
Brookings, 10a ET: "Memo to the President: Invest in Infrastructure for Long-Term Prosperity." Check out the panelists here.
TUESDAY 1/13
Earnings: Commerce Bancshares Inc.; State Street Corp.
Hearing: House Financial Services Cmte holds hearing on: "Priorities for the Next Administration: Use of TARP Funds under [the Emergency Economic Stabilization Act]," 2p ET. (Note: Chmn. Frank released a proposed outline to amend TARP on 1/9/09.)
Confirmation Hearing #1: Senate Energy and Natural Resources Committee holds Steven Chu's confirmation hearing for Energy Secy, 10a ET.
Confirmation Hearing #2: Senate Health, Education, Labor and Pensions Committee holds Arne Duncan's confirmation hearing for Education Secy, 10a ET.
Speech: National Press Club, 12:30p ET, James Mulva, Chairman and CEO, ConocoPhillips.
Speech: Georgetown University, 9:30a ET, Interim Assistant Secretary for Financial Stability Neel Kashkari gives an update on TARP implementation.
WEDNESDAY 1/14
Earnings: Gramercy Capital Corp.; Knight Capital Group Inc.
Economic Reports: Beige Book (the Fed's report on the economy); Business Inventories (for Nov.); Export/Import Prices (for Dec.); Retail Sales (for Dec.)
Confirmation Hearing #1: Senate Environment and Public Works Committee holds Lisa Jackson's confirmation hearing for EPA Administrator, 10a ET.
Confirmation Hearing #2: Senate Veterans' Affairs Committee holds Eric Shinseki's confirmation hearing for Veterans Affairs Secy., 10a ET.
Confirmation Hearing #3: Senate Agriculture, Nutrition and Forestry Committee holds Thomas Vilsack confirmation hearing for Agriculture Secy., 10a ET.
Hearing: House Small Business Committee holds "The State of the Small Business Economy and Identifying Policies to Promote an Economic Recovery" hearing, 10a ET.
THURSDAY 1/15
Earnings: Astoria Financial Corp.; BlackRock Inc.; Genentech Inc.; Intel
Economic Reports: Initial Unemployment Claims (for 1/10); Producer Price Index (for Dec.)
Confirmation Hearing #1: Senate Judiciary Committee holds Eric Holder's confirmation hearing for Attorney General, 9:30a ET.
Confirmation Hearing #2: Senate Energy and Natural Resources Committee holds Sen. Ken Salazar's (D-CO) confirmation hearing for Interior Secy., 9:30a ET.
Confirmation Hearing #3: Senate Homeland Security and Governmental Affairs Committee holds Janet Napolitano's confirmation hearing for Homeland Security Secy.
Speech: National Press Club, 8:30a ET, Edward Liddy, CEO of American International Group, Inc.
FRIDAY 1/16
Earnings: First Horizon National Corp.; Sony
Economic Reports: Consumer Price Index (for Dec.)
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...because you shouldn't need a decoder ring to understand the business pages.
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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.
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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.