Ben Bernanke Testifies on Monetary Policy
The fed Governor Ben Bernanke will today at 10am EST deliver a semi-annual monetary policy testimony to House Financial Services Committee in Washington. The Fed Chairman will comment on how the Fed observes the current U.S. economy and the value of dollar. Bernanke's comments may influence the volatility of the currency and determine a short-term positive or negative trend. His hawkish view is considered as positive, or bullish for the USD, whereas his dovish view is considered as negative or bearish for the Dollar.
Energy Bill Senate hearing
The Senate debate on a major new climate bill with a cap and trade regime at its core continues today. The U.S. Senate Committee on Environment & Public Works will hold a hearing Tuesday 10:00 a.m. entitled Clean Energy Jobs, Climate-Related Policies and Economic Growth - State and Local Views. Witnesses include Colorado, Washington, North Dakota and New Jersey Governors.
Apple to report 3Q earnings
Apple, the iPhone maker, is scheduled to report its fiscal third quarter 2009 results after the market closes on Tuesday. Analyst estimate between $1.02 earnings per share to a high of $1.31, with a consensus estimate of $1.15.
Yahoo to announce 2Q earnings
Yahoo Inc. is scheduled to report its second-quarter results after the stock market closes Tuesday. Analysts polled by Thomson Reuters, on average, predicted that Yahoo will earn 8 cents per share on revenue of $1.14 billion after subtracting commissions paid to advertising partners. The earnings estimate doesn't include a projected charge of up to $27 million to cover the costs of the second-quarter layoffs.
NRG shareholders' annual meeting
NRG Energy Inc. will hold its annual meeting of shareholders on Tuesday. NRG will vote to elect its Board directors, a move awaited by Exelon Corp to determine whether or not it will press forward with the bid to purchase NRG.
ICSC- Goldman store sales report will be released
Today the weekly measure of comparable store sales will be published. Last week same-store sales tally rose 0.5 percent in the week but still shows a minus 0.3 percent year-on-year pace.
Bank of Canada to announce interest rate decision
The BoC Interest Rate Decision will be announced today by the Bank of Canada at 11am EST. If the BoC is hawkish about the inflationary outlook of the economy and increases the interest rates it is positive for the CAD. Likewise, if the BoC has a dovish view on the Canadian economy and decides to keeps the current interest rate, or cut the interest rate it is seen as negative.
Sinopec fuel sales
Sinopec Corp., the second-biggest oil refiner in China reports domestic fuel sales in the second quarter, showing signs of real-end users fuel demand.