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October 18, 2010 at 05:38 AM
Some of the biggest financial services companies, with earnings and partnership implications for advisors, report third-quarter earnings this week. While Congress and the President are busy campaigning, the Fed and its leaders remain hard at work, with watchers parsing Bernanke’s speech last week and looking for release of the Fed beige book this week. Tim Geithner speaks early in the week, while the SEC and CFTC hold a joint hearing at the end of the week on credit default swaps.
Monday, Oct. 18, brings Q3 earnings reports from and Citigroup, and the National Association of Home Builders releases its housing market index (HMI), while the Treasury Dept. reports on foreign nationals’ purchase of U.S. securities.
(A Wall Street Journal page one article on Oct. 18 reports that pension funds are fleeing equities, leaving the stock market in the hands of frequent traders like hedge funds.)
Other reports on Monday include the Fed’s September industrial production and capacity utilization report, while Treasury Secretary Tim Geithner speaks at the Commonwealth Club of California in Palo Alto. Geithner’s European counterparts begin two days of meetings on Eurozone budget rules meant to avoid a repeat of the PIGS countries’ debt problems.
