Ahead of the curve: The next 7 days
August 14th, 2011
07:35 PM ET

Ahead of the curve: The next 7 days

Will this week on Wall Street be anything like the roller coaster ride of the previous week? A number of important economic reports coming out this week will have a role in how things shake out. Here is a look at this and other stories that CNN plans to follow:

Another turbulent week ahead for investors?

A number of factors - including concerns about debt in Europe, the U.S. economy and Standard & Poor's decision to downgrade the United States' credit rating - could make this another wild week on Wall Street, CNNMoney contributor Ken Sweet writes.

Stocks took big downward and upward swings last week - the Dow Jones Industrial Average dropped 635 points Monday, rose 420 the next day, fell 520 points on Wednesday and jumped 420 points on Thursday. When it all settled, the three major stock indexes ended the week down by an average of 1.5%.

This week, along with the factors mentioned above, investors will watch for a number of reports, including Tuesday's July industrial production figures from the Federal Reserve (production is expected to have risen slightly) and July housing starts and building permits. On Thursday, July inflation figures will be announced.

Mubarak back in court

The trial of former Egyptian President Hosni Mubarak and his two sons - all charged with corruption and ordering the killing of anti-government protesters during a revolt that led to his fall from office this year - is scheduled to resume Monday.

Earlier this month, Mubarak, 83, appeared in court on a hospital gurney and, as is standard in Egyptian criminal trials, was placed in a cage. Mubarak has been hospitalized since suffering heart palpitations in April, though Egypt's health officials have said he is fit to stand trial.

Mubarak's interior minister and six of the minister's assistants face trial on the same charges.

About 840 people died and more than 6,000 were injured in the uprising, according to Amnesty International. The revolt forced Mubarak to step down on February 11, leaving Egypt under the control of a military council.

Obama on three-day Midwest tour

U.S. President Barack Obama is expected to talk about strategies for creating jobs and improving the economy during a three-day bus tour through part of the Midwest this week.

Starting Monday, Obama is scheduled to take a 360-mile trip through Minnesota, Iowa and Illinois, meeting groups of small-business owners and other people at rural events.

On Thursday, the president and his family will head to Martha's Vineyard, Massachusetts - his summer vacation site of choice for the third straight year.

Tropical Storm Gert approaching Bermuda

The eye of Tropical Storm Gert, which became the seventh named storm of the 2011 Atlantic hurricane season on Sunday, is forecast to go near or just east of Bermuda on Monday afternoon, the National Hurricane Center said.

Early Sunday evening, the storm was about 255 miles south-southeast of Bermuda and "slowly strengthening" as it headed north, according to the center. The center predicted large swells that "are likely to cause life-threatening surf and rip current conditions" could affect the island in the Atlantic.

Will suspect in Aruba disappearance remain in jail

A suspect in the disappearance of an American woman in Aruba is expected to learn Monday whether he needs to remain in an Aruban jail.

A magistrate could order the suspect - identified by his attorney as Gary Giordano of Gaithersburg, Maryland - to remain in custody for at least eight more days or remain on the island out of custody or release him outright because of a lack of evidence, Aruba's solicitor general said.

Giordano, 50, was arrested by Aruban police on August 5, thee days after Robyn Gardner, 35, also of Maryland, was last seen near a beach on the western tip of the island. Giordano told authorities that he'd been snorkeling with Gardner and signaled to her to swim back, according to a statement. When he reached the beach, Gardner was nowhere to be found, Giodano allegedly said.

The Aruban prosecutor's office hasn't said what evidence led authorities to suspect Giordano's involvement in Gardner's disappearance.

Schools to reopen in tornado-hit Joplin, Missouri

Students will meet in makeshift classrooms when the school year starts in tornado-ravaged Joplin, Missouri, on Wednesday.

High school classes will be held in a shopping mall, and middle school students will meet in a factory. Ten Joplin schools were damaged or destroyed by a massive tornado that hit the community on May 22.

The tornado killed more than 150 people. It was estimated to be an EF-5, the most powerful on the Enhanced Fujita Scale, with wind speeds exceeding 200 miles per hour.

Timberlake, Myspace to make announcement Wednesday

Pop star and actor Justin Timberlake and the new managers of Myspace are expected to announce their plans for the slumping social networking site in a news conference on Wednesday.

Specific Media bought Myspace from News Corp. for $35 million in June. Timberlake has a role in the new arrangement, saying at the time of Specific Media's purchase that Myspace has the potential to be a place where fans can go to " interact with their favorite entertainers, listen to music, watch videos, share and discover cool stuff and just connect."

In June, Myspace dropped to third-most popular online social network in the United States in terms of Web traffic. Facebook and LinkedIn were Nos. 1 and 2, respectively.

U.S. traffic to Myspace in June was half of what it was in June 2010, when the site had more than 66 million unique visitors, according to comScore, an Internet analytics firm.

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Filed under: Ahead of the curve
soundoff (27 Responses)
  1. justathought

    Well folks, it's time for more of your snibes, jokes, sarcasim and whatever is ridiclous because there's nothing of intrest in this blog

    August 14, 2011 at 8:04 pm | Report abuse |
  2. banasy©

    MySpace was big about 7 years ago.
    Today, not so much.
    In any case, good luck trying to revive it, JT.

    August 14, 2011 at 8:36 pm | Report abuse |
  3. banasy©

    Howdy, justathought.
    How are you today?

    August 14, 2011 at 8:38 pm | Report abuse |
  4. Mmmmm

    Reviving myspace is like mouth to nosing your dead dog...not the most enjoyable encounter but somebody got to do it...the odds are against jah!

    August 14, 2011 at 9:00 pm | Report abuse |
    • mdmooser

      Not unless your Justin Timberlake and you could put your star power behind it and blow it up after it was bought at 35 million and make it worth much much more. Safe, smart move on JT's part, good luck.

      August 15, 2011 at 12:42 am | Report abuse |
  5. justathought

    Hi Bansay, sometimes I think these posts get really silly crazy, but I know there must be more interesting stuff out there to blog

    August 14, 2011 at 9:08 pm | Report abuse |
  6. Mad Hatter

    Well hoping for a better week on wall street. Fingers crossed.
    As for mubarak look at all the deaths and injuries of the protesters. Just don't want to see any protesters getting hurt and killed here in our land.
    Well bermuda secure yourselves in someplace. Have plenty of water, food, ice and alcohol to wait out the storm. Break out the beer pong and have a blast
    And at Justin Timberlake good luck with that.

    August 14, 2011 at 9:51 pm | Report abuse |
  7. Cesar

    I am Cesar, KING of the CNN blogs. The world is a roller coaster, and I am its turbulence. @banasy: Hi Bud light imbraves me.

    August 14, 2011 at 9:52 pm | Report abuse |
  8. Cesar

    Anybody wanna troll me?...That's what I thoughyt, punks!

    August 14, 2011 at 9:59 pm | Report abuse |
  9. Less finger pointing, more fixing.

    It is very rare that you have someone who leaves a comment that makes such perfect sense, talking to you justathought. Who cares about the next seven days, let's start talking years, but it seems no one really cares about those either.

    August 14, 2011 at 9:59 pm | Report abuse |
  10. Cesar

    Tomcat wherer are you. If you come back, I promise not to say "so" ever! Please come back.

    August 14, 2011 at 10:02 pm | Report abuse |
  11. Mad Hatter

    Peeps are scared to put it into years. The ride's awfully bumpy just on a daily basis.

    August 14, 2011 at 10:15 pm | Report abuse |
  12. Really No One

    I can't see past my own nose. It's a common problem in America today. There is a fix for that and it involves a controversial operation in which short sighted people have their eyes stretched out and their nose cut off. It's called the Beaker look.

    August 14, 2011 at 10:40 pm | Report abuse |
  13. Pink Pather

    @ Really No One... LMAO your a hoot!

    August 14, 2011 at 11:10 pm | Report abuse |
  14. banasy©

    Conversely, people who worry about the future endlessly have the "bleaker look."

    August 14, 2011 at 11:10 pm | Report abuse |
  15. icehawk

    ron paul 2012!

    August 15, 2011 at 12:47 am | Report abuse |
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