Investors start off the trading session this Monday morning with absolute carnage in the markets and much to fret about as world markets react to the S&P downgrade of the United States.
Good morning, I'm Kristin Bianco, with the Week Ahead Market Report for August 8, 2011.
In overseas trading, Japans Nikkei 225 Stock Average was by nearly 2.2 percent, and the Hang Seng Index also lower by nearly 2.2 percent.
The FTSE 100 was lower by over 1.7 percent, and the German DAX was lower by about 2.9 percent.
In the US, the markets are sharply lower in early trading action.
Key data due to be released this week includes the treasury budget on Wednesday, and retail sales as well as business inventories on Friday.
On the earnings front, expect to hear from Bluefly (BFLY) on Tuesday, Aegean Marine Petroleum Network (NYSE:ANW) on Wednesday, Fortegra Financial (NYSE:FRF) on Thursday, and International Bancshares (NASDAQ:IBOC) as well as Harris Interactive (NASDAQ:HPOL) on Friday.
Join us on Friday for the Weekly Market Wrap and have a wonderful week.
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