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The Fast Money five takes a look at the week's biggest market movers. | |||
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Wall Street will continue its death watch over shares of Lehman Brothers, but investors will also turn their attention to Lehman's stronger rivals Goldman Sachs and Morgan Stanley, which will report respective earnings on Tuesday and Wednesday of next week. Few are expecting a Lehman-like loss, or even an Erin Callan-like management shuffle at those firms, but that could be half the problem as the investment banks begin the painful process of deleveraging. There is a growing consensus that the brokers are Wall Street's version of a black box, or as Bill Fleckenstein noted yesterday, a "lottery ticket." Resolution could come on Tuesday when Wall Street's biggest broker, Goldman Sachs, the gold standard for risk management and savvy investing, releases results. A Lehman-like loss, and we could see a very sloppy tape emerge. Better-than-expected numbers from Goldman could provide a round of relief, and that relief could translate into higher stock prices, especially if Morgan Stanley posts similar results on Wednesday. Also on the earnings docket will be FedEx, which will not only provide a glimpse into how higher fuel costs are affecting transports, but also how robust shipping activity has been. A key inflation reading comes out on Tuesday when the Producer Price index is released. High energy prices are fast creeping into every corner of the economy, and eventually there may come a point where companies may no longer be able to pass along costs to consumers. Also worth noting will be Quadruple Witching on Friday, which could provide additional volatility to the market. We'll have Fast Money regular Stacey Gilbert to get you set up on that front. Remember, an open market is a market in which you can make money. So let's try and do that all next week. See you then. . If you have questions about The Final Trade or suggestions for Fast Money, please send an email to FastMoney@cnbc.com |
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