The Fed will hold a one-day meeting on Tuesday, Aug 5. I do not anticipate any change in interest rates.
Two Dow components will report: American International Group (AIG) and Procter & Gamble (PG). Market direction could also be influenced by Cisco Systems (CSCO), which reports on Tuesday, after the close of trading.
The focus of earnings season will shift away from blue-chip stocks to small- and mid-cap stocks. Overall, we have confirmed reports from nearly 750 companies, including 68 S&P 500 members.
A list of all of earnings reports and economic data scheduled to be released this week can be found in Earnings Preview: http://at.zacks.com/?id=3234.
Today's Top Stories: Monday- August 4, 2008
ZACKS RANK BUY STOCKS
EARNINGS PREVIEW for August 4 - August 8
A Fed meeting and results from AIG, CSCO and PG headline another busy week for earnings. Learn more...
What is Growth and Income Exactly? Knowing more about the style of an investment will help investors diversify more effectively. Learn more...
ZACKS ANALYST INTERVIEW:
Watch for More Biotech Acquisitions.
It will be interesting to watch because I think you will see a lot of activity here in the second half of the year. We discuss BMY, IMCL, DNA, PFE and GSK. Learn more...
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