Along with the quarterly figures, important economic data such as retail sales will be published this week. Results are going to be inconsistent, says Cardillo: "I think we'll have weak retail sales, industrial production certainly is going to be a little weak too. Housing data is probably going to be quite strong. Strong in the sense, that it'll be consistent with the numbers we had been seeing all along. We'll see Empire State Manufacturing Index, Philly Fed and Mid Atlantic Survey. Both of them will be on the plus side, but a little bit weaker than the previous readings. I think the next week will be all about earnings." The US analyst does not foresee that markets will be calmed next week. He is critical about further debates looming in Washington D.C.: "The market certainly always needs to worry about something. The political charade that happened with the fiscal cliff is going to repeat now with the debt ceiling. There are going to be a lot of negative headlines and a lot of going back and forth, but at the very end they will raise the debt ceiling." The expert is sure that it is imperative to raise the debt limit. "The bottom line is: They will raise the debt ceiling", the US analyst Peter Cardillo told US Chief Correspondent Manuel Koch in the interview.
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