Oct 8 - This could be the worst quarter for earnings in over a decade based on previous negative outlooks. But consumer stocks could do well; a sign the recovery still has strength.
Well we've all heard this could be the worst quarter for earnings in over a decade based on all the negative outlook. But now get to see the actual numbers. As usual it starts without hole after the bell the Dow components sent to barely make it into the black with aluminum prices hovering around two year lows. What are the saving graces will be the performance of its transport division. Trucks are being forced to use lighter aluminum wheels. Yum! Brands also reports afterwards the owner -- KFC could -- fatter profits but it's tiny -- might be hurt by rising food prices. And wages. So I expect storm clouds over Wall Street but there is one ray of light. S&P 500 ending so that they expect -- to decreased 2.3 percent this quarter. The bright spot is that consumer discretion is expected to go with seven point 8% to -- -- 75% of the US economy. That's a great sign for the stock market as long as the consumer remains strong as long as -- it continues to bite Japanese apple products. Good products that the content of the. Chevron gives an intern earnings update and is expected to show few signs of improvement. Production at the second largest US oil company has been falling its price pressures with Brent down to box from a year ago. At 110. Dollars at San Francisco Bay refinery has also been out of commission. Since the fire in August. One other company news we could see a showdown between Procter & Gamble and hunch manager William act Manhattan he Indies and shareholder meeting. I think holds a 1% stake in the maker of tide and pampered and have been critical of CEO Robert McDonald. This after PG cut its earnings forecast three times this year because of the downturn. -- -- -- He's put company's board on notice. Amid all the economic -- oil keep an eye on for a key figure is on Tuesday. Fed chair Ben Bernanke and US Treasury Secretary Tim Geithner are in India and route to -- I am Mac World Bank meetings in Tokyo. Markets we'll hone in on any comments about the duration of fed bond buying strength of Asian economies. ECB -- Mario -- he has -- and EU hearing in Brussels and German Chancellor Angela Merkel has to happen. The question whether Spain might finally ask for aid and how Europe's key players. And stay with insider and Reuters TV for more expert announces on the big market movers. Wondering what I have got the US so worried about why -- China's top network equipment maker. We'll have an in depth explainer on Tuesday. I'm holiday mom this is greater.