09/09/11 – theGrio and CNBC Market Update
VIDEO - We'll get a read on inflation with the August consumer price index report...
Investors had plenty of data to analyze last week. President Obama presented his 450 billion dollar plan to create jobs and stimulate the economy…The fed’s beige book showed a modest pace of economic growth… and the services sector grew in August lid by an increase in new orders. In the week ahead investors await earnings reports from Best Buy and Blackberry maker — research in motion. As well as key reports on production, inflation and consumer confidence…
We’ll gain insight on the economy with the August industrial production report — which tracks activity in manufacturing, mining and utilities… in July industrial production rose nearly 1 percent — the fastest pace in seven months — as auto production improved and hot weather increased utility usage.
We’ll get a read on inflation with the August consumer price index report — which tracks price changes for food, clothing and energy — in July prices rose a half of one percent driven by higher food and gas prices. Prices are up 3 point 6 percent compared to a year ago. Are you feeling better about the economy? We’ll find out with the preliminary consumer sentiment report for September. In August sentiment improved slightly to a 55 point 7 reading but consumers are still concerned about weak job growth and uncertainty in the financial markets. Consumer sentiment is a gauge of consumer spending.
That’s your CNBC market look ahead for the Grio dot com… I’m Shartia Brantley.
