slow.........ly

Today's markets will watch monthly retail sales for July and Walmart's quarterly earnings. Thursday also brings the weekly jobless claims report from the Labour Department and readings on July import and export prices and June business inventories.Retail sales, reported at 8:30 am New York time, will continue to show a consumer under pressure but could be slightly better than last month's number. Economists forecast that July sales will be up 0.7 percent after rising 0.6% in June.Discounter Walmart reports earnings before the opening bell and is expected to show flat results of 86 cents per share.Accounting rule maker FASB holds a board meeting Thursday that is getting a lot of attention for its potential impact on banks. FASB is expected to consider a proposal to have financial instruments carried on balance sheets at fair value. There is no immediate action expected on this proposal, but if it results in modification of the mark-to-market rule it could impact bank earnings.The Fed, in its post-FOMC statement Wednesday, said the economy is leveling out and said it would keep its Fed funds rate near zero, as expected. The Dow added 120 points, or 1.3 percent at 9361. The S&P 500 recovered 11 points, or 1.1 percent, to close at 1005.

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