1. Glaring trade gap to narrow a bit
By now, a slowing economy and weakening dollar were supposed to take a chainsaw to the huge and worrisome trade deficit. Yet, the March shortfall grew to $63.9 billion, far worse than analysts expected. A very slight improvement is expected when new figures roll out Friday. Economist Jay Bryson says trends point to some improvement in trade later this year. “The global economy remains strong and that is helping our exports, but import growth needs to slow,” said Bryson, of Wachovia Corp. in Charlotte.
2. Retail sales scope
If the consumer is, indeed, the last one standing amid the economy’s ho-hum performance, sales by the nation’s discount and department stores are critical. Totals for May will be released Thursday, amid expectations for gains of about 2.7 percent.
3. Trump to take stand?
More fireworks are expected in the trial of media billionaire Conrad Black, as a parade of defense witnesses continues. The New York Post says one of those called to take the stand on behalf of Black will be real estate mogul Donald Trump. His half-built tower stands on the site of the old Sun-Times building, once owned by Black’s empire.
4. A case for crossovers
Waiting for a break in gasoline prices continues, as some analysts say a peak at about $3.60 has been reached. In the meantime, automakers report that consumers are turning their attention away from gas-guzzlers in favor of fuel-saving crossover vehicles and hybrids.
5. Market not calm yet
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The broadest measure of stocks, Standard & Poor’s 500 index, has struggled mightily in recent days to achieve a new high, its first in seven years. But don’t assume that means the market is becalmed, says investment analyst Peter Cohan. “The S&P is 45 percent cheaper today than at the dot-com peak,” says Cohan, based in Marlborough, Mass. “The reason is that individual investors, still burned by the dot-com collapse, have been on the sidelines.” He says stocks could rise by as much as 30 percent..
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