Wednesday, January 7, 2009

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The Fed's Beige Book will be studied for clues on whether the Fed will cut interest rates again or hold steady when it meets at the end of October.
Figures on industrial production and capacity utilization are due on Tuesday. The consensus view is for a rise of 0.1 percent in industrial production. Capacity utilization is seen holding steady at 82.2 percent.
Thursday's data includes a report on leading indicators of the U.S. economy. A rise of 0.3 percent is expected in September, the Reuters poll showed.
The Philadelphia Federal Reserve Bank's index of conditions in the U.S. mid-Atlantic region in October is also due on Thursday. The Philly Fed index is expected to decline to 7.3 from 10.9 in September. Index readings above zero show growth in manufacturing in the region.29 million units, down from 1.33 million in August.
Ed Vallar, director of and research at GM Advisory Group in Port Washington, New York, said the

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