Trading And Investing Intelligence For The Week Of March 5th, 2012. Very Busy Week Coming Up, In The USA And Globally.

[ 0 ] March 2, 2012 |

It will be a busy week around the globe as four central banks (Bank of England, European Central Bank, Bank of Australia, and Bank of Canada) will release their interest rate decisions or QE purchase targets. The ECB, which will offer its decision on Thursday, is widely expected to keep its benchmark interest rates unchanged at 1.00% after conducting a second round of three-year LTRO loans last week, although a few analysts believe it may cut the rate by 25bps. The Bank of England is fully expected to keep its asset purchases and interest rates unchanged. Economists expect the Bank of Canada to keep its benchmark rate at 1.00%.

Switzerland, Canada, and the US will all release unemployment numbers next week. There will also be GDP announcements from the eurozone, Australia, and Japan. In order for bulls to stay in charge, these releases need to continue to outperform after the US stated the country was growing 3.0% on a quarterly basis.

On Friday, the Greek debt exchange offer with private investors will close. Officials will need a 90% participation rate from investors for a 53.5% principal write down in order to proceed with the exchange voluntarily. Any amount of participation less than 75% would mean Greece will likely enforce Collective Action Clauses (CACs), which would signify a default.

Key earnings reports include Madison Square Garden (MSG), Dick’s Sporting Goods (DKS), Ciena (CIEN), and Williams-Sonoma (WSM).

Monday, March 5

US Economics
10:00 ISM Non-Manufacturing Composite – consensus 56.3
10:00 Factory Orders – consensus -1.5%
11:00 Fed to sell $1b-$1.5b notes in 1 to 3-year range
11:30 U.S. to sell $33b 3-month, $31b in 6-month bills

Global Economics
08:55 EUR German PMI
09:00 EUR Euro-Zone PMI
09:30 GBP PMI
10:00 EUR Euro-Zone Retail Sales
9:00 France to sell up to EU2.3b 364-day bills

Earnings
Before: ARCO, CVGW, DQ, AG, ISS, MSG, SUP, TA
After: ABM, AMCN, AMAG, AERL, AACC, CASY, CHRM, CCRN, DCO, GA, NQ, NTRI, PWRD, STXS, PAY

Tuesday, March 6

US Economics
No major economic reports
11:00 Fed to buy $3.5b-$4.25b notes in 6 to 8-year range
11:30 U.S. to sell 4-week bills, $26b 52-week bills

Global Economics
03:30 AUD Reserve Bank of Australia Rate Decision
10:00 Euro-Zone GDP
15:00 CAD Ivey PMI
6:00 EFSF to sell up to EU3.5b 91-day bills

Earnings
Before: AKRX, BLT, BPI, XNY, DKS, DUSA, ENER, FTEK, IRDM, MUX, MDSO, NGPC, PNCL, RIGL, BNS, SSI, UNFI, MTN, WRES
After: AVAV, ALTH, ALOG, CHEF, BORN, CCIH, ESC, EXM, GTY, GCA, HIL, HRZN, MAKO, MBLX, ONTY, P, POST, SHFL, STAA, TNS, ZIPR

Wednesday, March 7

US Economics
07:00 MBA Mortgage Purchase Index
08:15 ADP Employment Change – consensus 200K
08:30 Nonfarm Productivity – consensus 0.8%
08:30 United Labor Costs – consensus 1.2%
3:00 Consumer Credit – consensus 10.00B
11:00 Fed to purchase $1.75b-$2.25b notes in 25 to 30-year range

Global Economics
00:30 AUD GDP
06:45 CHF Unemployment Rate
11:00 EUR German Factory Orders
23:50 JPY GDP
5:30 Germany to sell add’l EU4b 5-yr notes

Earnings
Before: AEO, BONT, BWS, BF.B, CSIQ, CEL, PLCE, CIEN, COMV, EXPR, HOV, LIWA, LINC, MFB, NAV, SCR, TRK, TFM
After: AFCE, AIQ, KH, CEDU, CWTR, CODI, DK, EGLE, FTK, GERN, HRB, HOTT, JMBA, KFY, KTOS, MW, MYRG, NABI, OPTR, PLL, KWR, SGK, SMTC, SQNM, SIGM, STAN, STEI, TCAP, URDL

Thursday, March 8

US Economics
07:30 Challenger Job Cuts
08:30 Initial Jobless Claims – consensus 355K
08:30 Continuing Claims – consensus 3423K
11:00 Fed to purchase $4.5b-$5.25b in 8 to 10-year notes

Global Economics
00:30 AUD Employment Change
04:30 JPY Bankruptcies
08:15 CHF CPI
12:00 GBP BOE Asset Purchase Target
12:45 EUR ECB Rate Decision
13:15 CAD Housing Starts
14:00 CAD Bank of Canada Rate Decision

Earnings
Before: ARGN, ANAC, BUD, ALC, BKE, CNQ, CMN, MY, CRIC, CORE, CRTX, DXYN, DM, DYN, EJ, FLY, FSYS, FSIN, GLP, HITK, JKS, KIRK, TUC, MITI, RDNT, SOL, SFD, SMP, SMRT, STP, TICC, USPH, WSM
After: SSRX, SVN, AONE, ARO, ALIM, ALJ, AHS, BODY, BPZ, CMTL, COO, DNN, DEPO, EBS, ERII, GNMK, HEK, HMIN, OMPI, POWR, ZQK, SWHC, TCRD, THO, TPCG, ULTA, VISN, WX, ZGNX, ZUMZ

Friday, March 9

US Economics
08:30 Trade Balance – consensus -$48.6B
08:30 Nonfarm Payrolls – consensus 210K
08:30 Private Payrolls – consensus 220K
08:30 Manufacturing Payrolls – consensus 20K
08:30 Unemployment Rate – consensus 8.3%
08:30 Avg Hourly Earnings – consensus 0.2%
08:30 Avg Weekly Hours – consensus 34.5
10:00 Wholesale Inventories – consensus 0.6%
11:00 Fed to sell $8b-$8.75b notes in 1 to 2-year range

Global Economics
01:30 CNY CPI
05:30 CNY Industrial Production
05:30 CNY Retail Sales
07:00 EUR German CPI
09:30 GBP Industrial Production
12:00 CAD Unemployment Rate
Greek debt exchange offer with private investors closes

Earnings
Before: ANN, ARNA, BIOS, CTRN, FSS, FGP, HALO, HIBB, KMGB, LMIA, NVAX, PNY
After: PPHM

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