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Trading Radar: Fed Meeting Minutes Likely to Calm Market Concerns
Economics, earnings reports, and market events for the week ahead.
Michael Sedacca    

The S&P 500 (INDEXSP:.INX) completed an outside down day bar in Friday's session, which would typically be the signal that the existing trend is over. The NASDAQ-100 (INDEXNASDAQ:NDX) came under particularly intense pressure as high-growth tech stocks were sold heavily. It's likely we'll see both of those trends continue through next week.

As is typical after a jobs report, economic data reports will be on the lighter side next week. The main highlight will be the minutes of last month's FOMC meeting, which will be released next Wednesday afternoon. In my opinion, because there has been great consternation over what's been perceived as a communication mistake by Chair Janet Yellen, it's very likely that the minutes will be altered to help assuage market fears.

Another economic data report of note is the March producer price index, scheduled for next Friday. It's possible that we'll begin to see the sharp drop in iron ore and copper prices show up in this month's report, but April is more likely.

Next Friday, the preliminary April University of Michigan/Reuters consumer confidence index will be released. Economists are expecting the index to rise to 81.0 from 80.0 last month. Because asset prices have been generally rising recently, geopolitical risk has subsided, and hiring and wages increased in March, it is likely that we'll see consumer confidence increase in April.

In the global space, the Bank of Japan will announce its monetary policy decision on Monday night. It's widely expected that the central bank will increase its stimulus measures due to the perceived economic slowdown from the government's recent sales tax increase.

Earnings season for the first quarter will start with Alcoa (NYSE:AA) next Tuesday. Banks will begin reporting Friday, with JPMorgan (NYSE:JPM) and Wells Fargo (NYSE:WFC) starting things off. Also scheduled to report during the week is Bed Bath & Beyond (NASDAQ:BBBY) and Family Dollar (NYSE:FDO).

Monday, April 7

US Economics (Time Zone: EST)

3:00 Consumer Credit - expected $14B, prior $13.69B
11:00 Fed to purchase $900m-$1.5b bonds in 22 to 30-year range
11:30 Treasury selling $25b 3-month, $23b 6-month bills
 
Fedspeak
 
11:45am Bullard (currently hawkish, nonvoter) speaks in Los Angeles

Global Economics (Time Zone: GMT)

05:00 JPY Leading Index
07:15 CHF CPI
08:30 EUR Eurozone Sentix Investor Confidence
10;00 EUR German Industrial Orders
14:30 CAD Business Outlook

Earnings
 
No major reports scheduled.

Tuesday, April 8

US Economics (Time Zone: EST)
 
10:00 JOLTS Job Openings - expected 4025, prior 3974
11:00 Fed to purchase $750m-$1b TIPS in 4 to 30-year range
11:30 Treasury selling 4-week bills
1:00 Treasury selling $30b 3-year notes

Fedspeak

1:30pm Kocherlakota (dove, voter) speaks in Minnesota
2:45pm Plosser (hawk, voter) speaks in Philly
4:00pm Fed holds open board meeting in Washington on leverage ratios

Global Economics (Time Zone: GMT)

JPY BoJ Rate Decision
05:45 CHF Unemployment Rate
08:30 GBP Industrial and Manufacturing Production
12:15 CAD Housing Starts

Earnings

After:
Alcoa (AA)

Wednesday, April 9

US Economics (Time Zone: EST)

07:00 MBA Mortgage Applications
10:00 Wholesale Inventories MoM - expected 0.5%, prior 0.6%
2:00 FOMC Minutes
11:00 Fed to purchase $900m-$1.15b bonds in 22 to 30-year range
1:00 Treasury selling $21b 10-year notes (2nd reopening)
 
Fedspeak
 
3:30pm Evans (dove, nonvoter) speaks in Washington
7:30pm Tarullo (moderate, board member) speaks in Washington

Global Economics (Time Zone: GMT)

00:30 AUD Consumer Confidence
06:00 EUR German Trade Balance
08:30 GBP Trade Balance

Earnings

Before:
Constellation Brands (STZ)

After:
Bed Bath & Beyond (BBBY)

Thursday, April 10

US Economics (Time Zone: EST)

08:30 Initial Jobless Claims - expected 320K, prior 326K
08:30 Continuing Claims - exp 2831K, prior 2836K
08:30 Import Price Index YoY - exp -0.9%, prior -1.1%
2:00 Treasury Budget (Mar) - exp -$72B, prior -$106.5B
11:00 Fed buying $2.75b-$3.5b bonds in 4 to 5-year range
1:00 Treasury selling $13b 30-year bonds (2nd reopening)

Fedspeak

11:30am Evans (dove, nonvoter) speaks in Washington with RBI's Rajan and other central bankers
 
Global Economics (Time Zone: GMT)

JPY Japan Investors Purchases of Foreign Bonds/Stocks
CNY Foreign Reserves
CNY New Yuan Loans
CNY Trade Balance
01:30 AUD Employment Change & Unemployment Rate
11:00 GBP BoE Rate Decision
12:30 CAD New Home Prices

Earnings

Before:
Family Dollar (FDO)
Rite Aid (RAD)

Friday, April 11

US Economics (Time Zone: EST)

08:30 Producer Price Index Final Demand YoY - expected 1.2%, prior 0.9%
08:30 PPI Ex Food & Energy YoY - exp 1.1%, prior 1.1%
09:55 University of Michigan Consumer Confidence (Apr prelim) - exp 81.0, prior 81.5
11:00 Fed buying $2b-$2.5b bonds in 7 to 10-year range
 
Global Economics (Time Zone: GMT)

01:30 CNY PPI & CPI
06:00 EUR German CPI (March final)
08:30 GBP Construction Output

Earnings

Before:
JPMorgan (JPM)
Fastenal (FAST)
Wells Fargo (WFC)

Twitter: @MichaelSedacca

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

More From Michael Sedacca
Trading Radar: Fed Meeting Minutes Likely to Calm Market Concerns
Economics, earnings reports, and market events for the week ahead.
Michael Sedacca    

The S&P 500 (INDEXSP:.INX) completed an outside down day bar in Friday's session, which would typically be the signal that the existing trend is over. The NASDAQ-100 (INDEXNASDAQ:NDX) came under particularly intense pressure as high-growth tech stocks were sold heavily. It's likely we'll see both of those trends continue through next week.

As is typical after a jobs report, economic data reports will be on the lighter side next week. The main highlight will be the minutes of last month's FOMC meeting, which will be released next Wednesday afternoon. In my opinion, because there has been great consternation over what's been perceived as a communication mistake by Chair Janet Yellen, it's very likely that the minutes will be altered to help assuage market fears.

Another economic data report of note is the March producer price index, scheduled for next Friday. It's possible that we'll begin to see the sharp drop in iron ore and copper prices show up in this month's report, but April is more likely.

Next Friday, the preliminary April University of Michigan/Reuters consumer confidence index will be released. Economists are expecting the index to rise to 81.0 from 80.0 last month. Because asset prices have been generally rising recently, geopolitical risk has subsided, and hiring and wages increased in March, it is likely that we'll see consumer confidence increase in April.

In the global space, the Bank of Japan will announce its monetary policy decision on Monday night. It's widely expected that the central bank will increase its stimulus measures due to the perceived economic slowdown from the government's recent sales tax increase.

Earnings season for the first quarter will start with Alcoa (NYSE:AA) next Tuesday. Banks will begin reporting Friday, with JPMorgan (NYSE:JPM) and Wells Fargo (NYSE:WFC) starting things off. Also scheduled to report during the week is Bed Bath & Beyond (NASDAQ:BBBY) and Family Dollar (NYSE:FDO).

Monday, April 7

US Economics (Time Zone: EST)

3:00 Consumer Credit - expected $14B, prior $13.69B
11:00 Fed to purchase $900m-$1.5b bonds in 22 to 30-year range
11:30 Treasury selling $25b 3-month, $23b 6-month bills
 
Fedspeak
 
11:45am Bullard (currently hawkish, nonvoter) speaks in Los Angeles

Global Economics (Time Zone: GMT)

05:00 JPY Leading Index
07:15 CHF CPI
08:30 EUR Eurozone Sentix Investor Confidence
10;00 EUR German Industrial Orders
14:30 CAD Business Outlook

Earnings
 
No major reports scheduled.

Tuesday, April 8

US Economics (Time Zone: EST)
 
10:00 JOLTS Job Openings - expected 4025, prior 3974
11:00 Fed to purchase $750m-$1b TIPS in 4 to 30-year range
11:30 Treasury selling 4-week bills
1:00 Treasury selling $30b 3-year notes

Fedspeak

1:30pm Kocherlakota (dove, voter) speaks in Minnesota
2:45pm Plosser (hawk, voter) speaks in Philly
4:00pm Fed holds open board meeting in Washington on leverage ratios

Global Economics (Time Zone: GMT)

JPY BoJ Rate Decision
05:45 CHF Unemployment Rate
08:30 GBP Industrial and Manufacturing Production
12:15 CAD Housing Starts

Earnings

After:
Alcoa (AA)

Wednesday, April 9

US Economics (Time Zone: EST)

07:00 MBA Mortgage Applications
10:00 Wholesale Inventories MoM - expected 0.5%, prior 0.6%
2:00 FOMC Minutes
11:00 Fed to purchase $900m-$1.15b bonds in 22 to 30-year range
1:00 Treasury selling $21b 10-year notes (2nd reopening)
 
Fedspeak
 
3:30pm Evans (dove, nonvoter) speaks in Washington
7:30pm Tarullo (moderate, board member) speaks in Washington

Global Economics (Time Zone: GMT)

00:30 AUD Consumer Confidence
06:00 EUR German Trade Balance
08:30 GBP Trade Balance

Earnings

Before:
Constellation Brands (STZ)

After:
Bed Bath & Beyond (BBBY)

Thursday, April 10

US Economics (Time Zone: EST)

08:30 Initial Jobless Claims - expected 320K, prior 326K
08:30 Continuing Claims - exp 2831K, prior 2836K
08:30 Import Price Index YoY - exp -0.9%, prior -1.1%
2:00 Treasury Budget (Mar) - exp -$72B, prior -$106.5B
11:00 Fed buying $2.75b-$3.5b bonds in 4 to 5-year range
1:00 Treasury selling $13b 30-year bonds (2nd reopening)

Fedspeak

11:30am Evans (dove, nonvoter) speaks in Washington with RBI's Rajan and other central bankers
 
Global Economics (Time Zone: GMT)

JPY Japan Investors Purchases of Foreign Bonds/Stocks
CNY Foreign Reserves
CNY New Yuan Loans
CNY Trade Balance
01:30 AUD Employment Change & Unemployment Rate
11:00 GBP BoE Rate Decision
12:30 CAD New Home Prices

Earnings

Before:
Family Dollar (FDO)
Rite Aid (RAD)

Friday, April 11

US Economics (Time Zone: EST)

08:30 Producer Price Index Final Demand YoY - expected 1.2%, prior 0.9%
08:30 PPI Ex Food & Energy YoY - exp 1.1%, prior 1.1%
09:55 University of Michigan Consumer Confidence (Apr prelim) - exp 81.0, prior 81.5
11:00 Fed buying $2b-$2.5b bonds in 7 to 10-year range
 
Global Economics (Time Zone: GMT)

01:30 CNY PPI & CPI
06:00 EUR German CPI (March final)
08:30 GBP Construction Output

Earnings

Before:
JPMorgan (JPM)
Fastenal (FAST)
Wells Fargo (WFC)

Twitter: @MichaelSedacca

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

More From Michael Sedacca
Trading Radar: Fed Meeting Minutes Likely to Calm Market Concerns
Economics, earnings reports, and market events for the week ahead.
Michael Sedacca    

The S&P 500 (INDEXSP:.INX) completed an outside down day bar in Friday's session, which would typically be the signal that the existing trend is over. The NASDAQ-100 (INDEXNASDAQ:NDX) came under particularly intense pressure as high-growth tech stocks were sold heavily. It's likely we'll see both of those trends continue through next week.

As is typical after a jobs report, economic data reports will be on the lighter side next week. The main highlight will be the minutes of last month's FOMC meeting, which will be released next Wednesday afternoon. In my opinion, because there has been great consternation over what's been perceived as a communication mistake by Chair Janet Yellen, it's very likely that the minutes will be altered to help assuage market fears.

Another economic data report of note is the March producer price index, scheduled for next Friday. It's possible that we'll begin to see the sharp drop in iron ore and copper prices show up in this month's report, but April is more likely.

Next Friday, the preliminary April University of Michigan/Reuters consumer confidence index will be released. Economists are expecting the index to rise to 81.0 from 80.0 last month. Because asset prices have been generally rising recently, geopolitical risk has subsided, and hiring and wages increased in March, it is likely that we'll see consumer confidence increase in April.

In the global space, the Bank of Japan will announce its monetary policy decision on Monday night. It's widely expected that the central bank will increase its stimulus measures due to the perceived economic slowdown from the government's recent sales tax increase.

Earnings season for the first quarter will start with Alcoa (NYSE:AA) next Tuesday. Banks will begin reporting Friday, with JPMorgan (NYSE:JPM) and Wells Fargo (NYSE:WFC) starting things off. Also scheduled to report during the week is Bed Bath & Beyond (NASDAQ:BBBY) and Family Dollar (NYSE:FDO).

Monday, April 7

US Economics (Time Zone: EST)

3:00 Consumer Credit - expected $14B, prior $13.69B
11:00 Fed to purchase $900m-$1.5b bonds in 22 to 30-year range
11:30 Treasury selling $25b 3-month, $23b 6-month bills
 
Fedspeak
 
11:45am Bullard (currently hawkish, nonvoter) speaks in Los Angeles

Global Economics (Time Zone: GMT)

05:00 JPY Leading Index
07:15 CHF CPI
08:30 EUR Eurozone Sentix Investor Confidence
10;00 EUR German Industrial Orders
14:30 CAD Business Outlook

Earnings
 
No major reports scheduled.

Tuesday, April 8

US Economics (Time Zone: EST)
 
10:00 JOLTS Job Openings - expected 4025, prior 3974
11:00 Fed to purchase $750m-$1b TIPS in 4 to 30-year range
11:30 Treasury selling 4-week bills
1:00 Treasury selling $30b 3-year notes

Fedspeak

1:30pm Kocherlakota (dove, voter) speaks in Minnesota
2:45pm Plosser (hawk, voter) speaks in Philly
4:00pm Fed holds open board meeting in Washington on leverage ratios

Global Economics (Time Zone: GMT)

JPY BoJ Rate Decision
05:45 CHF Unemployment Rate
08:30 GBP Industrial and Manufacturing Production
12:15 CAD Housing Starts

Earnings

After:
Alcoa (AA)

Wednesday, April 9

US Economics (Time Zone: EST)

07:00 MBA Mortgage Applications
10:00 Wholesale Inventories MoM - expected 0.5%, prior 0.6%
2:00 FOMC Minutes
11:00 Fed to purchase $900m-$1.15b bonds in 22 to 30-year range
1:00 Treasury selling $21b 10-year notes (2nd reopening)
 
Fedspeak
 
3:30pm Evans (dove, nonvoter) speaks in Washington
7:30pm Tarullo (moderate, board member) speaks in Washington

Global Economics (Time Zone: GMT)

00:30 AUD Consumer Confidence
06:00 EUR German Trade Balance
08:30 GBP Trade Balance

Earnings

Before:
Constellation Brands (STZ)

After:
Bed Bath & Beyond (BBBY)

Thursday, April 10

US Economics (Time Zone: EST)

08:30 Initial Jobless Claims - expected 320K, prior 326K
08:30 Continuing Claims - exp 2831K, prior 2836K
08:30 Import Price Index YoY - exp -0.9%, prior -1.1%
2:00 Treasury Budget (Mar) - exp -$72B, prior -$106.5B
11:00 Fed buying $2.75b-$3.5b bonds in 4 to 5-year range
1:00 Treasury selling $13b 30-year bonds (2nd reopening)

Fedspeak

11:30am Evans (dove, nonvoter) speaks in Washington with RBI's Rajan and other central bankers
 
Global Economics (Time Zone: GMT)

JPY Japan Investors Purchases of Foreign Bonds/Stocks
CNY Foreign Reserves
CNY New Yuan Loans
CNY Trade Balance
01:30 AUD Employment Change & Unemployment Rate
11:00 GBP BoE Rate Decision
12:30 CAD New Home Prices

Earnings

Before:
Family Dollar (FDO)
Rite Aid (RAD)

Friday, April 11

US Economics (Time Zone: EST)

08:30 Producer Price Index Final Demand YoY - expected 1.2%, prior 0.9%
08:30 PPI Ex Food & Energy YoY - exp 1.1%, prior 1.1%
09:55 University of Michigan Consumer Confidence (Apr prelim) - exp 81.0, prior 81.5
11:00 Fed buying $2b-$2.5b bonds in 7 to 10-year range
 
Global Economics (Time Zone: GMT)

01:30 CNY PPI & CPI
06:00 EUR German CPI (March final)
08:30 GBP Construction Output

Earnings

Before:
JPMorgan (JPM)
Fastenal (FAST)
Wells Fargo (WFC)

Twitter: @MichaelSedacca

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

More From Michael Sedacca
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