Bank of America Corp (BAC) & The Other Banks: The News You Need To Watch For This Week

Housing starts — Much like the housing market index, this data point will provide a snapshot of the housing recovery — a vital sector of the market for an overall economic recovery and a huge part of every bank’s business. Look for more housing starts or work permits, which will show the work that’s to start in the near future.

Friday

Leading Indicators — a monthly summation of ten economic data points that can show a current picture of the economy. Among those included are data points on consumer and business spending, as well as how interest rates are influencing borrowers. The last release of leading indicators posed some conflicting data, with the top credit index showing consumer and business spending on the rise, and continued low interest rates with a positive influence on borrowing demand, but there was little proof that demand was rising. Other indicators were clearly negative, with building permits in decline, factory manufacturing down, and rising unemployment claims.

So much data, so little time
As always, don’t feel that you need to study up on all of the information released on any given week. Figure out what news is most important to your stock. For example, Citigroup Inc (NYSE:C) might not be as effected by the housing data this week since it’s not a huge player in the mortgage market, but jobless claims will affect it just the same as the other big banks. Take time to understand what you’re looking at and if it really matters to the bank’s fundamental operations. And as always, you can look for more coverage to help you along by logging on to Fool.com.

The article 7 Must Watch Announcements for Bank Investors Next Week originally appeared on Fool.com and is written by Jessica Alling.

Fool contributor Jessica Alling has no position in any stocks mentioned — you can contact her here. The Motley Fool recommends Wells Fargo. The Motley Fool owns shares of Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo.

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