The Financials Review for The Week of July 18, 2011

Discussion in 'Financial Futures' started by pitgurufk, Jul 22, 2011.

  1. The Financials Review
    For the week of July 18, 2011

    By Frank LaMantia

    Moody's suggested that the U.S remove the debt ceiling altogether so that bond holders do not have an issue in the near future. Basically in a few years it may have to be lifted again and then the same fiasco could start all over again. This what the government calls periodic uncertainty. The U.S. is one of the few countries who still have a debt ceiling which in this trader's opinion acts like a stop sign. Today Gannett, Charles Schwab, and Hasbro will announce earnings. Hasbro is expected to do well because of Transformer action figures. After the bell today IBM will announce its earnings. Over 100 companies that belong to the S&P 500 are ready to announce their earning this week. Halliburton announced a 54% rise in quarterly profits and that drilling looks bullish for the near future. Oil prices being as high as they are has prompted oil companies to invest billions to develop oil fields. Halliburton is working shale fields and has benefits from developing in places that are hard for its competitors to reach. Second quarter profit rose to $739 million from $480 million at this juncture last year. Revenue rose 35% to $5.9 billion and was expected to be $5.71 billion.

    This week earnings and the U.S. debt ceiling issues should take center stage. Please do not forget about the euro crisis because it seems as though attention has been diverted. The swings in the market can be made stronger from overseas.