Good morning, welcome to the Financial News Network, your source for the latest business news. Here’s a few things to watch for in the financial world today June 20.The Federal Reserve could be helping the economy again once their two-day meeting finishes today. Many analysts believe Chairman Ben Bernanke and his fellow Fed policy makers will extend Operation Twist beyond $400 billion which would spur growth and buy protection from a possible meltdown in Europe. At 2 pm today, the Federal Reserve will release its forecasts for unemployment, inflation and the expected path of the federal funds rate over the next several years.Procter & Gamble seeing cuts in its future growth. The world’s largest household product maker now sees earnings per share for the fourth quarter to be in the range of 75 to 79 cents on revenue between $20.45 to $20.66 billion. The average analyst estimate is an EPS of 82 cents on revenue of $20.62 billion. The company says the cut in earnings can be attributed to unfavorable foreign exchange rates and continued slow growth in developed markets. P&G will be a stock to watch during today’s trading session.Finally, Swedish fashion retailer H&M reported better-than-expected second quarter results this morning. Profits for the company rose 23% during the quarter. H&M says the increase is due to successful sales of its spring clothing lines as well as stable cotton privies. Profits came in at $745 million in the quarter with revenues at over $5 billion. H&M trades of the Stockholm stock exchange and is up 2.5 percent.That’s what to watch here on the Financial News Network. For more coverage and analysis of the business world check us out at fnno.com or follow us on twitter @FNNOnline. I’m Chuck Pierce, thanks for watching.
