Market Radar. Events And Items To Pay Attention To This Week, October 17-21, 2011

[ 0 ] October 16, 2011 |

Earnings seasons goes into high gear next week with major banks such as Citigroup (C), Wells Fargo (WFC), Bank of America (BAC), Goldman Sachs (GS), Morgan Stanley (MS), US Bancorp (USB), and Suntrust (STI) reporting earnings. As Toddo has long said, banks usually lead the way in market movement. Tech companies such as Apple (AAPL), Yahoo (YHOO), eBay (EBAY) and cell phone stocks Verizon (VZ), AT&T (T), and Nokia (NOK) are also scheduled to report.

Looking abroad, China, Europe, and Canada will be reporting major consumer confidence and price index numbers throughout the week. China should be an important tell, as news regarding the appreciation and depreciation of their currency, the Yuan, has been a focal point for the markets.

Federal Reserve chairman Ben Bernanke is speaking on Tuesday in Boston at the Fed’s economic conference. In the past, his thoughts have telegraphed what — if any — monetary action the Fed may take. Looking ahead we have the FOMC’s meeting on November 2nd, so this will be a nice preview for that.

The G-20’s finance ministers will be continuing their meeting in Paris up until Wednesday of the coming week. October 23rd looks to be an important date in determining the verdict of Greece, as any inaction before then will result in a credit event, and the ensuing land slide.

Monday, October 17

US Economics
08:30 Empire Manufacturing – consensus -4.0
09:15 Industrial Production – consensus 0.2%
09:15 Capacity Utilization – consensus 77.5%
US to sell $29B 3-month and $27B 6-month bills
Fed to sell $1b-$1.5B TIPS in 1 to 3-year maturity range

Global Economics
04:30 JPY Industrial Production
14:30 CAD Business Outlook Future Sales

Earnings
Before: SCHW, C, FHN, GCI, HAL, HAS, MMR, WFC
After: BMI, BRO, ELS, IBM, ICUI, LNCR, PKG, SB, SWK, STLD, VMW, WDFC

Events
Fed’s Lacker speaks on economy in Maryland
Fed’s Evans speaks in Detroit

Tuesday, October 18

US Economics
08:30 PPI – consensus 6.4%
08:30 PPI ex Food & Energy – consensus 2.4%
09:00 Net Long-term TIC Flows
09:00 Total Net TIC Flows
10:00 NAHB Housing Market Index – consensus 15
US to sell 4-week bills and $25b in 52-week bills
Fed to purchase $2.25b-$2.75b notes/bonds in 25 to 30-year range

Global Economics
02:00 CNY Real GDP YTD
02:00 CNY Real GDP
02:00 CNY Industrial Production
02:00 CNY Retail Sales
08:30 GBP CPI
09:00 EUR Germany Economic Sentiment Survey
Spain to sell 12-month and 18-month bills
Greece to sell EU1.25b 91-days bills

Earnings
Before: BAC, CHKP, KO, DPZ, EMC, FRX, GPC, GS, HOG, JAKK, JNJ, EDU, OMC, PH, PTI, PII, STT, UNF, UNH, GWW
After: AAPL, CREE, CCK, CSX, FSII, FULT, HA, INFN, INTC, ISRG, JNPR, LLTC, MRTN, PNFP, PTP, RNST, RLI, SONC, SON, URI, WCN, WERN, WYNN, YHOO

Events
Fed’s Bernanke speaks in Boston
Fed’s Lockhart speaks on economy in Tennessee
Fed’s Rosengren gives welcome remarks at Boston Fed conference

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