The day ahead: Friday

August 27, 2009

Consumer spending and income data will be closely watched, along with a gauge of consumer sentiment, Tiffany results, and reaction to Apple’s new operating system.

*  July personal income and spending data will provide more clues on the likely durability of any economic recovery. Personal income probably rose  0.2 percent compared with a year earlier after a drop of 1.3 percent the previous month, according to Reuters polling.

*  All eyes in the retail world will be on high-end jeweler Tiffany & Co to see where the company stands with sales and its outlook for the upcoming holiday season, a critical selling period for jewelers.

*  Apple’s new operating system for Mac computers will go on sale, a bit earlier than expected, as the company looks to continue to expand its share of the PC market.

*  The final reading of the Reuters/University of Michigan consumer sentiment index, which is expected to come in at 64.5, will be down from 66 in July but up from the soft preliminary reading of 63.2.

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