Trading Radar: Big Week for Economic Data

By Michael Sedacca  SEP 21, 2012 4:05 PM

Economics, earnings reports, and market events for the week ahead.


MINYANVILLE ORIGINAL After a slow week in terms of economic data, all of it will come due this coming week. Much of the month's housing and economic data will be reported from Tuesday through Friday. The important data in the US this week includes durable goods, Chicago PMI, new home sales, and the different personal consumer indicators. This week's GDP reading will be the second revision, so the likelihood of any drastic changes is diminished. The Michigan Consumer Confidence report will be the revised number, also decreasing the chances of a big change.

In Europe, a Spanish bailout will likely continue to make headlines throughout the week. There is the possibility that Spain may ask for an enhanced credit line from the EU on Friday. The UK will report its GDP, Germany will report CPI and consumer confidence, and Japan will report employment and industrial production.

In earnings, key reports include Lennar Homes (NYSE:LEN), Nike (NYSE:NKE), Discover Financial (NYSE:DFS), and Walgreen (NYSE:WAG).

Monday, September 24

US Economics (Time Zone: EDT)
08:30 Chicago Fed – prior -0.13
10:30 Dallas Fed – prior -1.6
11:00 Fed to buy $1.5b-$2b notes in 25 to 30-year range
11:30 Treasury to sell $32b 3-month, $28b 6-month bills

Global Economics (Time Zone: GMT)

08:30 EUR German IFO Business Climate
10:30 Germany to sell EU3b in 12-month bills
13:00 France to sell in bills
Lennar (LEN) EPS 28c
Red Hat (RHT) EPS 29c

Tuesday, September 25

US Economics (Time Zone: EDT)

09:00 S&P/Case Schiller City MoM - consensus 0.70%, prior 0.94%
09:00 S&P/Case Schiller Composite YoY – consensus 1.0%%, prior 0.50%
10:00 Consumer Confidence – consensus 63.0, prior 60.6
10:00 Richmond Fed – consensus -6, prior -9
10:00 House Price Index – consensus 0.5%, prior 0.7%
11:00 Fed purchasing $4.5b-5.5b bonds in 8 to 10-year range
1:00 US to sell $35b 2-year notes

Global Economics (Time Zone: GMT)

GBP Home Prices
06:00 EUR German GfK Consumer Confidence
06:00 CHF UBS Consumption Indicator
12:30 CAD Retail Sales
22:45 NZD Trade Balance
08:30 Spain to sell bills
10:00 Italy to sell inflation-linked bonds


Factset Research (FDS) EPS $1.17
Carnival (CCL) EPS $1.44

Wednesday, September 26

US Economics (Time Zone: EDT)

07:00 MBA Mortgage Purchase Index
10:00 New Home Sales – consensus 380K, prior 372K
11:00 Fed to buy $4.25b-$5b notes in 6 to 8-year range
1:00 US to sell $35b in 5-year notes

Global Economics (Time Zone: GMT)

12:00 EUR German CPI
10:30 Germany to sell EU5b in 10-year notes


No major earnings

Thursday, September 27

US Economics (Time Zone: EDT)
08:30 Initial Jobless Claims – consensus 375K, prior 382K
08:30 Continuing Claims – consensus 3278K, prior 3272K
08:30 GDP QoQ (Annualized) – consensus 1.7%, prior 1.7%
08:30 GDP Price Index – consensus 1.6%, prior 1.6%
08:30 Personal Consumption – consensus 1.7%, prior 1.7%
08:30 Core PCE – consensus 1.8%, prior 1.8%
08:30 Durable Goods – consensus -4.7%, prior 4.1%
08:30 Durable Goods ex Transports – consensus 0.3%, prior -0.4%
08:30 Cap Goods Orders – consensus 0.5%, prior -3.4%
11:00 Fed to sell $7b-$8b notes in 3-year range
1:00 Treasury selling $29b 7-year notes

Global Economics (Time Zone: GMT)

CNY Leading Index
01:00 NZD NBNZ Business Confidence
01:30 CNY Industrial Profits
07:55 EUR German Unemployment Change
08:30 GBP GDP
09:00 EUR Eurozone Consumer Confidence
23:15 JPY Jobless Rate
23:30 JPY Household Spending
23:50 JPY Industrial Production


Discover Financial (DFS) EPS $1.04
Nike (NKE) EPS $1.13
Global Payments (GPN) EPS 85c
Micron Tech (MU) EPS -22c

Friday, September 28
US Economics (Time Zone: EDT)

08:30 Personal Income – consensus 0.2%, prior 0.3%
08:30 Personal Spending – consensus 0.5%, prior 0.4%
08:30 PCE Deflator – consensus 1.5%, prior 1.3%
08:30 PCE Core – consensus 1.6% consensus, prior 1.6%
09:45 Chicago PMI – consensus 53, prior 53
09:55 University of Michigan Confidence – consensus 79.0, prior 79.2
11:00 Fed to buy $1.5b-$2b bonds in 25 to 30-year range

Global Economics (Time Zone: GMT)

23:30 CNY HSBC Manufacturing PMI
05:00 JPY Housing Starts
05:30 EUR French GDP
07:00 CHF KOF Swiss Leading Indicators
12:30 CAD GDP

The Finish Line (TFL) EPS 44c
Walgreens (WAG) EPS 56c

Twitter: @MichaelSedacca

No positions in stocks mentioned.

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