THE BIG PICTURE |
Updated: 24-May-13 Analysis of major issues impacting the financial markets.
A Fed Addendum We'd like to stop talking about the Federal Reserve so regularly. We really would. Unfortunately, we can't. The brave new world in which the stock market lives revolves around the Federal Reserve's monetary policy. With the latter in mind, and considering there was a good bit of hoopla this week around the issue of the Fed tapering its asset purchases sooner than expected, we felt compelled to provide an addendum to our Fed piece from earlier this week, Stock Market Not Ready to Handle Tapering Truth. The hoopla was borne out of Fed Chairman Bernanke's testimony before the Joint Economic Committee and the release of the minutes for the April 30-May 1 FOMC meeting on Wednesday. Each provided some headline fodder, yet neither provided new insight on the Fed's governing influence in making policy decisions. Incoming data has been, is, and will be the determining factor for any adjustments to the Fed's asset purchase program and federal funds rate. Mr. Bernanke said as much in...
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Calendar Key: Actual refers to the
actual figures after their release. Briefing.com Forecast refers to Briefing.com forecast. Briefing.com Consensus represents the market consensus estimate
for each indicator. Prior represents the last actual for each indicator.
In cases where the release is a revision to an earlier estimate, as
is possible with GDP, productivity, and U of Michigan sentiment, the
last actual refers to the preliminary estimate for the same period.
After a report is released, the Prior column reflects the prior figure
The Revised From column lists the prior number as it
was originally reported, i.e. before revision. Not included: Mitsubishi and Redbook chain store indexes
are released every Tuesday morning. M2 is released every Thursday at
16:30 ET. Trading Impact Briefing.com’s opinion of the trading impact of this particular release.
Briefing.com Consensus estimate provided by Retail Metrics.
Price Reaction is
the percentage price change of the stock on the
first day of trading following the release of
Same Store Sales. The purpose of this data point
is to identify the price sensitivity of a stock
to its monthly same store sales report.
whether company issued upside, downside, in-line
or mixed revenue or EPS guidance in this month's
same store sales release.