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Trading Radar: Earnings Pick Up as Netlfix, Microsoft, and More Report

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

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There aren't many pieces of economic data scheduled to be reported next week in the US. Domestic markets will be closed on Monday in observance of Martin Luther King, Jr. Day. The only notable report for the coming week is December 2013 existing home sales, scheduled for Thursday, January 23. Due to the extremely cold winter weather during the month it is likely that the final figure will fall short of the 1.0% monthly gain that economists expect. Friday's December 2013 housing starts and permits were both marginally below economist expectations.

The Bank of Japan will officially release its 2014 target for expansion of the monetary base. In 2013, the BoJ expanded the monetary base by 270 trillion yen. Thus far, market participants expect the BoJ to keep a similar target for the new year. Whatever decision the central bank makes will have significant consequences on the USDJPY, and by extension, US equities and fixed income. Other global economic data scheduled for the week include preliminary January manufacturing reports from China and the eurozone.

The pace of earnings reports in the US will increase rapidly next week, making them the highlights. Notable reports for the week, of which there are many, include Verizon Communications (NYSE:VZ), Delta Air Lines (NYSE:DAL), Netflix (NASDAQ:NFLX), Microsoft (NASDAQ:MSFT), Lockheed Martin (NYSE:LMT), Fifth Third Bancorp (NASDAQ:FITB), Procter & Gamble (NYSE:PG), and Stanley Black & Decker (NYSE:SWK).

Monday, January 20

US Economics (Time Zone: EST)

US market closed for Martin Luther King holiday

Global Economics (Time Zone: GMT)

02:00 CNY 4Q GDP
02:00 CNY Industrial Production
02:00 CNY Retail Sales
02:00 CNY Fixed Asset Investment
04:30 JPY Industrial Production
06:00 JPY Machine Tool Orders

Earnings

No major reports scheduled

Tuesday, January 21

US Economics (Time Zone: EST)

No major economic reports
11:00 Fed to purchase $1b-$1.5b bonds in 23 to 30-year range
11:30 Treasury selling $28b 3-month, $25b 6-month bills

Global Economics (Time Zone: GMT)

NZD Consumer Prices
10:00 EUR German ZEW Economic Sentiment Survey

Earnings

Before:
Halliburton (HAL)
Johnson & Johnson (JNJ)
Baker Hughes (BHI)
Regions Financial (RF)
Verizon Communications (VZ)
Delta Air Lines (DAL)

After:
Cree (CREE)
Texas Instruments (TXN)
Advanced Micro Devices (AMD)
IBM (IBM)

Xilinx (XLNX)
Travelers Co (TRV)

Wednesday, January 22

US Economics (Time Zone: EST)

07:00 MBA Mortgage Applications
11:00 Fed buying $2.25b-$3b notes in 7.5 to 10-year range
11:30 Treasury selling 4-week bills

Global Economics (Time Zone: GMT)

JPY BoJ sets its 2014 Monetary Base Target
00:30 AUD CPI
04:30 JPY All Industry Activity Index
09:30 GBP Jobless Claims Change
09:30 GBP BoE Minutes
15:00 CAD Bank of Canada Rate Decision

Earnings

Before:
Abbott Labs (ABT)
General Dynamics (GD)
Textron (TXT)
United Tech (UTX)
US Bancorp (USB)
St Jude Medical (STJ)
Norfolk Southern (NSC)

After:
Stryker (SYK)
Netflix (NFLX)
Teradyne (TER)
Raymond James Financial (RJF)
Western Digital (WDC)
Sandisk (SNDK)
eBay (EBAY)

Coach (COH)
Freeport McMoran (FCX)

Thursday, January 23

US Economics (Time Zone: EST)

08:30 Initial Jobless Claims – exp 325K, prior 330K
08:30 Continuing Claims – exp 2850K, prior 2865K
08:30 Chicago Fed – prior 0.60
08:58 Markit US Preliminary PMI – expected 55.0, prior 54.4
09:00 Home Price Index MoM – exp 0.3%, prior 0.5%
10:00 Existing Home Sales – exp 4.95M, prior 4.9M
10:00 Leading Index – exp 0.2%, prior 0.8%
11:00 Kansas City Fed – prior -3
11:00 Fed buying $1b-$1.5b bonds in 23 to 30-year range
1:00 Treasury selling $15b in 10-year TIPS

Global Economics (Time Zone: GMT)

JPY Japanese Investors Purchases of Foreign Bonds/Stocks
01:45 CNY HSBC/Markit Flash Manufacturing PMI
05:00 JPY BoJ Monthly Economic Report
08:30 EUR Eurozone Manufacturing and Services PMI
13:30 CAD Retail Sales
15:00 EUR Eurozone Consumer Confidence

Earnings

Before:
McDonald's (MCD)
Southwest Airlines (LUV)
Union Pacific (UNP)
Lockheed Martin (LMT)
Fifth Third Bancorp (FITB)

After:
F5 Networks (FFIV)
Altera (ALTR)
Microsoft (MSFT)
Starbucks (SBUX)
E-Trade Financial (ETFC)
Juniper Networks (JNPR)
Discover Financial (DFS)

Intuitive Surgical (ISRG)
International Game Tech (IGT)

Friday, January 24

US Economics (Time Zone: EST)

No major economic reports
11:00 Fed buying $2.5b-$3.5b bonds in 5 to 6-year range

Global Economics (Time Zone: GMT)

09:30 GBP BBA Loans for Home Purchase
13:30 CAD CPI

Earnings

Before:
Honeywell (HON)
Bristol-Myers Squibb (BMY)
WW Grainger (GWW)
Procter & Gamble (PG)
Stanley Black & Decker (SWK)
Xerox (XRX)
State Street (STT)

Twitter: @MichaelSedacca

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No positions in stocks mentioned.

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