Tomorrow’s Tape: Read on Retail
June 11th, 2011
Economics:
- 7:30 a.m. ET: NFIB small-business optimism index. Small-biz owners create most of the jobs in this country, according to small-biz owners. These guys have not been too happy lately.
- 8:30 a.m. ET: Retail sales for May. A big report, given that this economy is carefully constructed around credit-fueled trips to Hot Topic and Home Depot. Economists expect sales to fall 0.6%, compared with a 0.5% gain in April, on tumbling auto sales.
- 8:30 a.m. ET: Producer Price Index for May. Economists think wholesale prices rose 0.1% May, compared with 0.8% in April. This one doesn’t get a ton of attention but could set the tone for CPI Wednesday and does tell us something maybe about corporate profit margins, which no one has worried about for a long time but could be due for a fall.
- 10:00 a.m. ET: Business inventories. If sex were an economic report, it would not be this one. Big gain expected, though. Means good GDP now, bad GDP later, maybe.
Earnings: We get reports from:
- Sino-Forest — Should be interesting.
- Best Buy
FedSpeak:
- 2:30 p.m. ET: The Bernankadonk, Ben Bernanke, speaks on fiscal sustainability. Buckle up for a fast ride to fun camp.
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