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U.S. Morning Call: Sears closing some stores, eye on housing

Tuesday, December 27, 2011 - 02:19

Dec. 27 - Sears Holdings expects to close 100-120 Sears and Kmart locations, and the S&P Case-Shiller House Price Index is expected to show a 3.2 percent decline in October, smaller than the previous month.

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Here's your morning call for this Tuesday it clearly was not a Merry Christmas -- Sears Holdings. This morning the retailers that it expects to close at least 100 Sears and Kmart locations. And also said it anticipates an adjusted fourth quarter profit. For taxes. They'll fall more than 50% from a year ago. Shares have nosedive since company reported a wider loss last month. They are down more than 30% for the year while S&P 500 retail PF this off about 10%. The recent improvements in US housing data expected to continue with the release of the case Shiller house price index this morning. The report expected to still shall fall on year over year basis. But the fifth straight month of smaller declines the consensus forecast calls for 3.2 percent decline on top of September's three point 6% drop. He comes out at 9:8 -- Consumer confidence expected to receive a boost as well the consensus of the fifties forecasters polled by Reuters is a reading of 58 point three. Up from up two points from November to follow stronger readings from other surveys like that Thomson Reuters University of Michigan consumer sentiment report. Consumer confidence about it and me but -- stuff to watch today include Southwest Airlines. Late Monday -- set a tentative agreement had been reached between its flight attendants and those of AirTran has part of southwest's purchase of AirTran. And Cal-Maine foods the producers -- reported a more than 50% jump in quarterly profit. Let's that it expects the cost behind volatile for the next six months. And finally each day this week -- highlight one of the top business stories of the year. We start with -- what was once considered unthinkable. The credit downgrade of the world's economic superpower the United States. In August political paralysis on Capitol Hill over cutting the federal budget deficit bush standard and forced to cut the US's AAA rating for the first time. By one -- You think treasury yields spike. But the eurozone crisis and improving US economic data -- treasuries look a lot less ugly so long term borrowing costs actually felt. That's your morning -- this Tuesday I'm Fred Katayama and this is Reuters inside.

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U.S. Morning Call: Sears closing some stores, eye on housing

Tuesday, December 27, 2011 - 02:19