Stockezy – U.S Market report. What’s News this week.
Published on Monday, June 22nd, 2009 at 1:57 PMAuthor: tushar (41 Articles)
Co-founder & CEO at Stockezy.COM. India's 1st Online Social Investing Community
President Obama’s Regulatory reform and Universal Healthcare plans are having an echoing impact both on Main Street and Wall Street. Last week we saw U.S Markets ending 4 straight week of gains and ended lower. Profit booking in sectors such as Commodities, Technology and Financials saw the winners of the past week end the week in losses.
So What is this Regulatory Reform Bill?
In a nutshell the following changes/proposals can be seen being debated in the Congress. The White House recommendations include:
Increased regulation for financial and investment banking firms as well as stricter control of overall markets.
New consumer and investor protection rules and provisions.
Basically under the new plan, the U.S Central Bank or FED will be the SUPER REGULATOR controlling the markets with increased powers. More changes and information which can directly affect the Finance & Banking Industry will be unveiled in the coming weeks. This has increased the uncertainty in the markets, with the Volatility Index, moving sharply above 30 levels.
Another unpleasant change this week saw the 30 year fixed home mortgage interest rates to move up to an expensive 5.3%.
So what’s in store for next week?
Earnings season continues with Oracle, Nike, Monsanto reporting earnings
On June 23rd, Tuesday, existing Home Sales data for end of May will be released
On June 24th, Wednesday, New Home Sales data will be released.
Both these indicator for Home Sales tell a lot about the existing situation of the consumer and health of the economy. So will be keenly watched and can influence markets movements.
Wednesday also ends the Federal Reserve Economic meeting where future policy decisions and Interest Rate information will be released.
June 26th, Friday, Consumer Department will release information for Personal Income and Outlays for month of May.
With the current economic situation being more on the volatile side, overall sentiment can be one of caution. So as always. Be Bullwise & Bearaware!
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