investorBlack Friday has come and gone and the holiday shopping season is off and running. In addition to keeping on eye on how retailers are doing, there will be plenty of other economic data for analysts and investors to peruse on this week.
The U.S. employment rate is expected to remain at 9.6% despite some job creation. Consumer confidence is expected to be up, but home prices are seen falling from a month ago.

The Federal Reserve's Beige Book report is a compilation of anecdotal information on current economic conditions from each of the 12 Federal Reserve Bank districts, and it is released eight times a year. The data comes from interviews with business contacts, economists, market experts, and other sources. While the September report showed slowing economic growth, the October report showed economic growth in all districts despite soft employment numbers.

Canadian Bank Earnings Expectations

On the earnings front, things will be pretty quiet as the season winds down. But four of Canada's big five banks -- Bank of Nova Scotia (BNS), Canadian Imperial Bank of Commerce (CM) Royal Bank of Canada (RY) and Toronto-Dominion Bank (TD) -- are also scheduled to report their fiscal fourth-quarter results this week.

Analyst surveyed by Thomson Reuters expected year-over-year EPS growth of about 15% from Bank of Nova Scotia and Canadian Imperial, to 98 cents and $1.66, respectively. Toronto-Dominion's anticipated $1.45 per share is about the same as a year ago, but Royal Bank's per-share earnings are expected to have dropped 6.8% to 96 cents. Earnings from Royal Bank missed consensus estimates in the previous two quarters, but the others have tended to be better than expected in recent quarters.

As for the full-year earnings results, analysts are looking for $3.88 per share from Bank of Nova Scotia (+9.5%), $6.39 from Canadian Imperial (+8.5%), $3.76 from Royal Bank (-14.4%) and $5.89 from Toronto-Dominion (+9.2%).

The long-term EPS growth forecast is 10% for Canadian Imperial and Royal Bank and 12% for Bank of Nova Scotia and Toronto-Dominion. Their P/E ratios are less than the industry average. But only Canadian Imperial and Toronto-Dominion have First Call consensus buy recommendations.

Except for Royal Bank, shares of the others are not far from their 52-week highs. Royal Bank has climbed 16.8% from its 52-week low in August. Bank of Nova Scotia closed the week at $55.78, Canadian Imperial at $77.72, Royal Bank at $54.10 and Toronto-Dominion at $73.35.

Look for results from Bank of Montreal (BMO) the following week.

Other companies reporting quarterly results this week include Aeropostale (ARO), Big Lots, (BIG), Krispy Kreme Doughnut (KKD), Kroger (KR) and Novell (NOVL).


Increase your money and finance knowledge from home

Income Investing

Grow your nest-egg.

View Course »

Introduction to Economic Indicators

Measure the performance of the economy.

View Course »

Add a Comment

*0 / 3000 Character Maximum

10 Comments

Filter by:
scottee

all we want is much smaller government and fewer taxes and free markets. The Fed needs to be audited and ended. we need the dollar back on the gold standard. we need a fair tax (HR25/S296) because it's not fair for congress to decide who to punish or favor via the tax code.......and congress needs to take a huge pay cut and pay into social security, buy their own IRAs and pay their own health insurance premiums like the rest of us. they earn six figures while they wreck the economy for us and while they legislate everything for us while exempting themselves....WHY??? is this okay with everyone???? they are elite on our money and we are left to deal with their whims????

November 29 2010 at 8:06 AM Report abuse rate up rate down Reply
rcumor

Remember you heard it here 1st !!!! No unemployment extension, mean down turn in the economy. They may tell you everything is getting better , but read between the lines....When they bail out more banks, because of rapidly deminishing enviroment . You will know it was all a republican ploy to make the rich richer an the poor poorer....Go Figure!

November 29 2010 at 6:07 AM Report abuse rate up rate down Reply
1 reply to rcumor's comment
scottee

there is a great documentary film out called The Inside Job...find it and watch it.

November 29 2010 at 8:07 AM Report abuse rate up rate down Reply
mikfete58

Watch this week as the Hindenburg Omen from August 13, 2010 is about to werak havok on Wall Street and other World Markets this week or next. WATCH THE DOW!

November 29 2010 at 12:39 AM Report abuse +1 rate up rate down Reply
justtrekin

Let me give you a heads-up on health care ... just received my health form for 2011 ... annual premium cost (I have to pay) has increased over $800, prescription co-pay has increased (by 50%) and I get to pay the FIRST $8,000 OUT OF POCKET of any 2011 medical bills!! That is not a typo! Eight Thousand Dollars! The company laid off more worker's this month. Where are the job's??? Where are the lower health care costs???

November 29 2010 at 12:07 AM Report abuse +3 rate up rate down Reply
1 reply to justtrekin's comment
scottee

and then we don't have health care til 2013. do you think congress is doing without?

November 29 2010 at 8:08 AM Report abuse +1 rate up rate down Reply
saminhim

THE NEWS MEDIA NEVER REPORTS ON HOW MANY MILLIONS OF UNEMPLOYED ARE THROWN OFF UNEMPLOYMENT AFTER 99 WEEKS.I KNOW I PAID UNEMPLOYMENT FOR 50 YEARS.I THINK I GOT BEAT BY THE GOVERNMENT AGAIN.

November 28 2010 at 6:46 PM Report abuse +1 rate up rate down Reply
cnsrvtvj

They did a special on the liberal mindset last week at donsmithshow.com. Just look at these comments from the liberals and you can see those guys nailed it.

November 28 2010 at 5:51 PM Report abuse rate up rate down Reply
Samir semaan

While all the consumer confidence will return to the market unemployment reporting will be more than last month or no raise while forclosures will keep coming as fast as we think it is because as I said before this the end of the tunnel for the housing market at least for the next six months. Now the banks will collect those homes and put them in the market that what will put other homes for sale into jeopardy and drive the prices of homes down. The government must make sure they have unemployment benefit till the next year so people able to survive the coming next year and certain tax cuts must be giving so the spending of the consumers continue beyond the next year or the spending will stop.

November 28 2010 at 10:11 AM Report abuse +2 rate up rate down Reply
jkennedy806

Canadian banks seem to be weathering this global storm very well. Is it that canadian government is much more vigilant than the US government in managing greed and fraudulent crimes against consumers. Or maybe the the Canadian banks didn't buy into this global dervative crap like Protgual Ireland etc..

November 28 2010 at 9:40 AM Report abuse +3 rate up rate down Reply