Today: A Busy Lineup
It's looking like a day in which we will ingest a lot of economic news. Here's what we'll be watching:
8:30 a.m.: Gross Domestic Product (3rd quarter, preliminary, revised), durable goods
9:00 a.m.: Case-Shiller home price data
10:00 a.m.: Treasury Secretary Hank Paulson holds a press conference to provide an update on the $700 billion bailout. It is expected that Paulson will announce a new plan to increase the availability of auto loans, student loans and credit cards to consumers by providing loans to investors who will buy securities backed by these consumer loans. The program will be overseen by the Federal Reserve but will tap some of the $700 billion bailout fund. The Wall Street Journal says it will use between $25 billion and $100 billion.
While the Treasury press conference is going on, the Federal Deposit Insurance Corp.'s chairwoman Sheila C. Bair will also hold a presser to announce the bank and thrift industry earnings for the third quarter of 2008.
And one more, at 10 a.m.: The Office of Federal Housing Enterprise Oversight releases its 3rd quarter data and the Conference Board releases consumer confidence data.
-- Sara Goo
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November 25, 2008; 7:18 AM ET
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