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Bernanke Meets the Press: What’s Next for the Fed?—Advisor Briefing for the Week of April 25, 2011

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April 25, 2011 • Reprints

Major market and economic news last week centered around the budget deficit and the U.S. debt, but this week big oil releases its earnings, as does Ameriprise. Despite a royal wedding on Friday and the penultimate launch of the space shuttle on the same day, the big news for advisors and their clients is likely to arrive on Wednesday. That’s when the Federal Reserve Open Market Committee meets, followed by Fed Chairman Ben Bernanke’s first-ever press conference. Congress remains in recess until May 1, but other market-moving news in the week will come from multiple reads on the state of the still sad-sack housing market and the first estimate of first quarter GDP.

All times are Eastern.

Monday, April 25

TBD: Galleon insider trading case may go to the jury.

8:30 AM: New home sales for March from the Census Bureau. Consensus was for a nearly 15% increase, but sales rose 11.1% from the revised February level, which were down 21.9% from their year-ago level..

4:35 PM: First-quarter earnings reports from Ameriprise Financial. On April 21, the company said it would take an additional $118 million charge in the first quarter to help settle litigation related to Securities America’s sales of certain private placement investments.

5:00 PM: First-quarter earnings report from LPL Investment Holdings (LPL Financial).

 

Tuesday, April 26

9:00 AM:  Housing prices for February from Standard & Poor’s/Case-Shiller home price index.

10:00 AM:  Consumer confidence index for April, released by The Conference Board.

 

Wednesday, April 27

8:30 AM:  Monthly durable goods orders for  March from the Census Bureau,

10:00 AM: SEC holds open meeting to discuss proposed joint rules with CFTC on swaps and to discuss credit ratings.

1:00 PM:  Weekly petroleum status report from the Energy Information Administration (EIA).

2:00 PM: Two-day meeting concludes of Federal Reserve Open Market Committee; Chairman Bernanke holds press conference following FOMC statement.

 

Thursday, April 28

8:30 AM: Initial unemployment insurance jobless claims from the Department of Labor.

8:30 AM: Initial estimate of first-quarter 2011 GDP numbers from the Commerce Dept.
 

Friday, April 29

8:30 AM: Personal income and consumer spending for March from the Commerce Department.

10:00 AM: Monthly consumer sentiment report from Thomson Reuters/University of Michigan.

About the Author
James J. Green, AdvisorOne

James J. Green, AdvisorOne

Jamie Green is Group Editorial Director of the Investment Advisory Group at Summit Business Media, with overall editorial responsibility for AdvisorOne.com, launched in October 2010, and Investment Advisor and Research magazines, monthly print magazines which have served advisors of all kinds for more than 30 years. He can be reached at jgreen@sbmedia.com

He has nearly 30 years experience in print and electronic journalism, with nearly 14 years covering the investment advisory industry. In the 1980s he was editor of Tele/Scope, a pioneering electronic news service based in New York that covered telecommunications business and research, and was editor of Telecommunications Research, a monthly journal. In the 1990s he worked for nine years at The New York Times, where he was editor of TimesFax, an electronic version of the newspaper of record now known as TimesDigest. While at The Times, he led the editorial team that expanded distribution of TimesFax to remote corners of every continent on Earth, to every ship in the U.S. Navy, to scores of cruise ships, and to the international space station.

He joined what was then Dow Jones Investment Advisor in 1999 as managing editor, was appointed Executive Editor of Investment Advisor magazine in 2000, Editor in 2002, Editor-in-Chief in 2005, and Editorial Director of Investment Advisor and Wealth Manager in 2008 before assuming his current position in 2009.

He holds a bachelor's degree in philosophy from St. Hyacinth College in Granby, Mass., and studied theology on the graduate level at St. Anthony-on-the-Hudson, Rensselaer, N.Y.

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