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U.S. Week Ahead: Deficit deal by Wednesday less likely

Friday, November 18, 2011 - 02:31

Nov. 18 - Congressional aides say they are less optimistic the super committee can cut $1.2 trillion from the deficit by Wednesday, says Reuters Correspondent Andy Sullivan.

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Here is you're US week ahead markets on edge ahead of key deadline to attack the US is yawning deficit Wednesday as the cutoff points for a bipartisan panel to agree on at least one point two trillion dollars worth the budget reductions over ten years he hit it fails that automatic spending cuts will kick in. Reuters correspondent Andy Sullivan says the chances of an agreement are. Made it appear to be pretty far apart on the main issues which is. Republicans are still pushing for an overhaul of entitlements and Democrats want to hear that. That also would raise taxes on the wealthy. Aides say that they're less optimistic than they were earlier in the week. We'll get insight into the inner workings of the threat when the Central Bank releases minutes from its November meeting on Wednesday it's UPS the back end of fed slashed its forecast for growth. There was only one dissenter Chicago fed president Charles Evans he called for more -- Investors we'll check the also the recovery -- preliminary third quarter GDP comes out on Tuesday at 8:30 AM. I have Faris says the second read should be revised down marginally from two and a half percent to 2.4 percent. Falling inventories likely to be a slight drag despite rising exports. Also on tap housing manufacturing and employment data. Monday's these existing home sales Wednesday as the turn -- personal income durable goods initial jobless claims. And the final lead of the university of Michigan's sentiment index. US markets are closed Thursday for Thanksgiving but so called Black Friday is one of the heaviest days and traffic for retailers. Second set to dominate corporate earnings on the radar -- Packard and Tyson Foods on Monday Tuesday's -- results from Campbell's soup and Hormel Foods. Wednesday -- reports me. Tyson is the start -- and out it -- the earnings of 33 cents a share that would be a surprise to the upside of almost 6%. And Monday's he's the first courtroom showdown in the collapse of Jefferson county's finances the largest municipal bankruptcy in US history. The Alabama county filed for chapter nine earlier this month when -- deal restructured three point fourteen billion dollars in sewer system debt soured. A court will hear whether this is it was appointed receiver should stay in control of the facility. I'm Rhonda schaffler mrs. Reuters Insider.

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U.S. Week Ahead: Deficit deal by Wednesday less likely

Friday, November 18, 2011 - 02:31