Daily Comments
US data due out today: labor market data, factory orders
02.09.2010 14:34:00 Erokhina Anna, Analyst, Global Markets (Finam)
On Thursday, September 2, several closely watched figures will come out in the United States. First, weekly changes in the number of initial jobless claims will be announced at 12:30 GMT. The figure is expected to rise to 475,000 from the previous level of 473,000.
Revised second-quarter productivity data will hit the wires at 12:30 GMT. The figure is projected to decline 1.9%, while a 0.9% drop was reported in the preliminary reading.
At 14:00 GMT, July changes in factory orders will be reported. The median forecast points to a 0.3% uptick while a 1.2% plunge was recorded the previous month.
A spate of earnings reports will be released by retailers, featuring August retail sales. The following companies are due to announce their results on today: Abercrombie & Fitch, Costco Wholesale, J. C. Penney, Kohl's, Nordstrom, Saks, Target and Gap Inc. In addition, Family Dollar will also unveil its quarterly sales data.
At 13:00 GMT, Federal Reserve Chairman Ben Bernanke will start testifying in front of the Financial Crisis Inquiry Commission, giving his take on the financial meltdown.
By 10:04 GMT, S&P 500 stock index futures were trading up 0.004%, while DJIA stock index futures were off 0.07%.
