Aug. 3--Triangle has stake in profit reports

The flood of quarterly corporate earnings reports continues this week, helping set the tone for Wall Street traders. Some highlights: Pulte Homes and Tyson Foods today, Duke Energy and Kraft Foods on Tuesday, Cisco Systems and Allstate on Wednesday, Beazer Homes and Live Nation on Thursday.

Among publicly traded companies with headquarters in the Triangle, three will report results Tuesday: Martin Marietta Materials of Raleigh, The Pantry of Sanford and Xerium Technologies of Youngsville.

Jobless rate key to expectations

Friday's report on the nation's unemployment will be eagerly anticipated by economists, investors and lawmakers. All want to see whether employers are beginning to rehire or whether they're taking a wait-and-see approach. Most economists expect the report to show the jobless rate rose in July from 9.5 percent in June. Some expect the rate will easily pass 10 percent before the worst of the downturn passes.

The jobless rate typically lags economic growth, meaning that the recession will end well before unemployment peaks.

Clunker credits to boost statistics

Today, automakers report sales for July, totals that got a late boost from the "cash for clunkers" program. Indeed, analysts predict auto sales will reach a 2009 high in July after the initiative lured shoppers into showrooms.

The program offered a credit of up to $4,500 to trade in a gas guzzler for a more fuel- efficient car.

The Senate is expected to take up a measure this week to triple the size of the Car Allowance Rebate System and keep the clunker cash coming. The first $1 billion allotted was expected to last until Nov.1 but ran out in a week.

On Thursday, the largest U.S. retailers report July sales, giving some indication whether consumers were out buying more than cars during the month.

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