Trading And Investing Intelligence For The Week Of August 20, 2012

[ 0 ] August 19, 2012 |

For the next week we will see growth reports from Germany and the UK. Germany was buoyed by stronger export shipments this past week which could cause an upside surprise for next week’s number. Spain will sell short-term Treasury bills on Tuesday, and it is likely to get some news coverage, but unless it is skewed heavily better or worse (which is unlikely), it should be uneventful.

In the US, the durable goods order — a highly volatile data point — will be released on Friday and is the highlight of the week in the US. Orders are expected to gain from last month. Due to the seasonal adjustments, we should see a second straight month of positive growth.

Key earnings reports will include Lowe’s (LOW), Best Buy (BBY), Dell (DELL), Hewlett-Packard (HPQ), and Barnes & Noble (BKS). This will mark nearly the end of earnings seasons for major companies.

Monday, August 20

US Economics (Time Zone: EDT)

08:30 Chicago Fed National Activity Index – prior -0.15
11:00 Fed to purchase $4.25b-$5b notes in 6 to 8-year range
11:30 Treasury selling $32b 3-month bills, $28b 6-month bills

Global Economics (Time Zone: GMT)

05:00 JPY Leading Index
11:00 Netherlands to sell EU2b 100-day bills, up to EU2b 190-day bills
14:00 France to sell bills

Earnings

Before:
Lowe’s (LOW) EPS 70c
After:
Urban Outfitters (URBN) EPS 33c

Tuesday, August 21

US Economics (Time Zone: EDT)

No major reports
11:00 Fed selling $7b-8b in 2 to 3-year range
11:30 Treasury selling 4-week bills, $25b in 52-week bills

Global Economics (Time Zone: GMT)

01:30 AUD RBA Minutes
03:00 NZD Credit Card Spending
04:30 JPY All Industry Activity Index
08:30 GBP Public Sector Net Borrowing
9:30 Spain to sell 12-month,18-month bills

Earnings

Before:
Barnes & Nobles (BKS) EPS -$1.00
Best Buy (BBY) EPS 31c
After:
Dell (DELL) EPS 45c
Williams-Sonoma (WSM) EPS 41c

Wednesday, August 22

US Economics (Time Zone: EDT)

07:00 MBA Mortgage Purchase Index
10:00 Existing Home Sales – consensus 4.52M, prior 4.37M
2:00 FOMC Minutes
11:00 Fed purchasing $1.5b-$2b in 25 to 30-year range

Global Economics (Time Zone: GMT)

12:30 CAD Retail Sales
11:30 Germany to sell EU5b 2-yr notes

Earnings

Before:
Toll Brothers (TOLL) EPS 16c
After:
American Eagle Outfitters (AEO) EPS 21c
Hewlett Packard (HPQ) EPS 98c

Thursday, August 23

US Economics (Time Zone: EDT)

08:30 Initial Jobless Claims – consensus 364K, prior 361K
08:30 Continuing Claims – consensus 3300K, prior 3332K
08:58 Markit US Flash PMI – consensus 51.5
10:00 New Home Sales – consensus 365K, prior 350K
10:00 House Price Index – consensus 0.5%, prior 0.8%
11:00 Fed buying $1.5b-$2b Treasuries in 10 to 20-year range
1:00 Treasury selling $14b in 5-year TIPS

Global Economics (Time Zone: GMT)

02:30 CNY HSBC Flash Manufacturing PMI
06:00 CHF Trade Balance
06:00 EUR German GDP
07:30 EUR German PMI
08:30 EUR PMI
14:00 EUR Eurozone Consumer Confidence

Earnings

Before:
No reports
After:
Aruba Networks (ARUN) EPS 17c
Salesforce.com (CRM) EPS 39c

Friday, August 24

US Economics (Time Zone: EDT)

08:30 Durable Goods Orders – consensus 2.5%, prior 1.3%
08:30 Durable Goods Ex Transport – consensus 0.5%, prior -1.4%
08:30 Cap Goods Orders Nondef Ex Air – consensus -0.4%, prior -1.4%
08:30 Cap Goods Ship Nondef Ex Air – consensus -0.5%, prior 1.2%

Global Economics (Time Zone: GMT)

00:00 AUD Conference Board Leading Index
08:30 GBP GDP
11:10 UK to sell bills

Earnings

Before:
Madison Square Garden (MSG) EPS 18c

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Category: Economics, Markets and Trading