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A Look Ahead: Next Week's Market-Moving Events


There will be few meaningful economic reports from the US this week. Alcoa will kick off earnings season.


The Market in a Minute – With a 4% Gain:

The S&P 500 (INDEXSP:.INX) opened the week at 1402.43, facing investors' fears that the country might fall off the fiscal cliff. Disaster was averted, and stocks gained more than 4% for the week. The week ended on a relatively positive note, with most sectors of the S&P gaining.

The Trade: Trading could be erratic this week, as an absence of meaningful economic data and the beginning of earnings season are unlikely to provide much direction. I expect a difficult earnings season and will continue to rotate into high dividend-paying stocks – in particular the health care, energy, and materials sectors, all of which have a forward PE significantly below their historical norms.

Today in History: The euro was launched on January 4, 1999.

Next Week's Market-Moving Events:
  • Monday: European and Asian news are likely to drive markets, as there are no meaningful economic reports from the US.
  • Tuesday: Consumer credit figures will be released at 3:00 p.m. EST. Expect light trading as investors wait for Alcoa (NYSE:AA) to kick off earnings seasons and report after the close.
  • Wednesday: On this day in 2007, Steve Jobs debuted the first iPhone (NASDAQ:AAPL). Earnings reports are still light today.
  • Thursday: Given January 4's disappointing employment report, expect the 8:30 a.m. EST jobless claims data to carry more weight than normal. Market participants will pay particular attention to continuing claims data.
  • Friday: International trade and import / export prices will be reported. One the earnings front, Wells Fargo (NYSE:WFC) reports earnings.
Follow Oliver Pursche on Twitter: @opursche.
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