Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Trading Radar: A Week Full of Data, Earnings, and Ben Bernanke

By

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

PrintPRINT
Here's a look ahead at what's coming up next week in potentially market-moving news.

The US will release the first estimate of second quarter GDP on Wednesday morning, and economist expectations have been revised, getting progressively worse with the continual influx of new data from June. Currently, the consensus economist expectation is for annualized growth of 1.0% in the second quarter, though many Street estimates are below that figure. With the consumption, manufacturing, fixed investment, and inflation data we've received thus far, we can reasonably expect to see 0.4% to 0.6% annualized growth, with an outside chance that we'll see a quarterly contraction depending on where public spending clocks in.

July's non-farm payroll figure will be released on Friday. This month, economists are expecting to see growth, forecasting 179,000 new jobs to be added since June. National and regional manufacturing surveys thus far have all shown growth in employment for the month. Additionally, hours worked should increase as should manufacturing capacity utilization.

Personal spending and income data from June will also be released on Friday. In June, the payrolls report showed that average hourly earnings accelerated by 0.4% month-over-month, which should provide a tailwind to income. Additionally, tax receipts have picked up in July, which is a positive for both income and spending growth. However, retail sales ex auto and gas dropped by 0.1% in June, creating a head wind for consumption growth, which is also being challenged by higher taxes, particularly in households with less than $75,000 annual income.

Lastly, the FOMC will release its latest monetary policy decision on Wednesday, following the GDP and ADP payrolls report that morning. It is unlikely that the Fed will move to reduce asset purchases at the July meeting. The Fed may comment on second quarter growth and inflation trends, which they have thus far viewed as transitory. A $20-$25 billion cut in asset purchases has been priced into fixed income markets, so if the Fed indicates they are not on that path, Treasuries and other fixed income assets will likely rally.


MONDAY, July 29

US Economics (Time Zone: EDT)

10:00 Pending Home Sales Mom – June, prior 6.7%, est. -1.2%
10:30 Dallas Fed Manufacturing Activity – June, prior 6.5, est. 6.8
11:30 Fed purchase $2.75-3.5b in 2020-2023 sector
11:30 Fed to Sell $30b 3M, $25b 6M bills

Global Economics (Time Zone: GMT)

08:30 GBP Net Consumer Credit
08:30 GBP Mortgage Approvals
22:30 JPY Household Spending

Earnings

Eastman Chemical (EMN) is expected to report EPS of $1.64.
Herbalife (HLF) is expected to report EPS of $1.19.
Hertz (HTZ) is expected to report EPS of $0.46.
Loews (L) is expected to report EPS of $0.73.
Masco (MAS) is expected to report EPS of $0.19.
Norwegian Cruise Line (NCLH) is expected to report EPS of $0.27.
Simon Property Group (SPG) is expected to report EPS of $2.07.


TUESDAY, July 30

US Economics (Time Zone: EDT)

09:00 S&P/Case Shiller Home Prices Mom – May, prior 1.72%, est. 1.3%
09:00 S&P/ Case Shiller Home Price Index – May, prior 152.37
10:00 Consumer Confidence – July, prior 81.4, est. 79.9
11:00 Fed to purchase $1.25b-$1.75b in 2036-2043 sector
11:30 Fed to sell 4W bill

Global Economics (Time Zone: GMT)

05:00 JPY Small Business Confidence
09:00 EUR Euro Industrial Confidence
09:00 EUR Euro-Zone Economic Confidence
12:00 EUR German Consumer Price Index
23:05 GBP GfK Consumer Confidence Survey
23:15 JPY Nomura Manufacturing Survey

Earnings

3D Systems (DDD) is expected to report EPS of $0.22.
Aetna (AET) is expected to report EPS of $1.39.
Alliance (ADS) is expected to report EPS of $2.18.
Aflac (AFL) is expected to report EPS of $1.52.
Amgen (AMGN) is expected to report EPS of $1.71.
Coach (COH) is expected to report EPS of $0.89.
Corning (GLW) is expected to report EPS of $0.31.
Cummins (CMI) is expected to report EPS of $1.97.
Jetblue (JBLU) is expected to report EPS of $0.14.
Merck (MR) is expected to report EPS of $0.82.
Pfizer (PFE) is expected to report EPS of 2.09.


WEDNESDAY, July 31

US Economics (Time Zone: EDT)

07:00 MBA Applications July 26, prior -1.2%
08:15 ADP Employment Change - July, prior 188k, est. 180k
08:30 Employment Cost Index - Q2, prior 0.3%, est. 0.5%
08:30 Gross Domestic Product -Q2, prior 1.8%, est. 1.2%
08:30 Personal Consumption – Q2, prior 2.6%, est. 1.5%
09:45 Chicago Purchasing Manager – July, prior 51.6, est. 54.5
10:30 Crude Inventories
14:00 Federal Open Market Committee Rate Decision, prior 0.25%
15:00 Fed releases its August schedule for tentative outright Treasury purchases

Global Economics (Time Zone: GMT)

01:30 AUD Prive Sector Credit
05:00 JPY Housing Starts
06:00 CHF UBS Consumption
07:00 CHF Swiss Leading Indicator
07:55 EUR German Unemployment Change
07:55 EUR German Unemployment Rate
09:00 EUR Euro-Zone Consumer Price Index
12:30 CAD Gross Domestic Product
23:30 AUD AiG Performance Manufacturing Index

Earnings

DreamWorks (DWA) is expected to report EPS of $0.20.
Level 3 Communications (LVLT) is expected to report EPS of -$0.06.
Mastercard (MA) is expected to report EPS of $6.32.
Questar (STR) is expected to report EPS of $0.22.
SodaStream (SODA) is expected to report EPS of $0.57.
Yelp (YELP) is expected to report eps of -$0.03.


THURSDAY, August 1

US Economics (Time Zone:EDT)

07:30 Challenger Job Cuts Yoy – July, prior 4.8%
07:30 RBC Consumer Outlook Index – August, prior 50.7
08:30 Initial Jobless Claims, prior 343k, est. 345k
08:58 Markit US PMI Final – July, est. 53.1
10:00 Construction Spending Mom – June, prior 0.5%, est. 0.6%
10:00 ISM Manufacturing – July, prior 50.9, est. 51.5
10:00 ISM Price Paid – July, prior 52.5, est. 53
10:30 EIA Natural Gas Storage Change
17:50 Total Vehicle Sales – July, prior 15.89 million, est. 15.70 million

Global Economics (Time Zone:GMT)

01:00 CNY Manufacturing PMI
01:00 AUD HIA New Home Sales
01:45 CHY HSBC Manufacturing PMI
07:55 EUR German Purchasing Manager Index Manufacturing
08:00 EUR Euro-Zone Purchasing Manager Index Manufacturing
08:30 GBP Purchasing Manager Index Manufacturing
11:00 GBP BOE Rate Decision
11:00 GBP Asset Purchase Target

Earnings

Activision (ATVI) is expected to report EPS of $0.04.
American International Group (AIG) is expected to report EPS of $0.85.
Beazer Homes (BZH) is expected to report EPS of -$0.35.
Exxon Mobil (XOM) is expected to report EPS of $9.83.
Kellogg (K) is expected to report EPS of $0.97.
Linkedin (LNKD) is expected to report EPS of $0.04.
OpenTable (OPEN) is expected to report EPS of $0.35.
Procter & Gamble (PG) is expected to report EPS of $0.77.
Time Warner Cable (TWC) is expected to report EPS of $1.66.


FRIDAY, August 2

US Economics (Time Zone: EDT)

08:30 Personal Income, prior 0.50%, est. 0.4%
08:30 Change in Non-farm Payrolls – July, prior 195k, est. 83k
08:30 Personal Spending – July, prior 0.30%, est. 0.5%
08:30 PCE Deflator Mom – June, prior 0.1%, est. 0.3%
08:30 Change in Private Payroll – July, prior 202k, est. 195k
08:30 Person Consumption Expenditure Deflator - July, prior 1.0%, est. 0.4%
08:30 Unemployment Rate – July, prior 7.6%, est. 7.5%
08:30 Personal Consumption Expenditure Core Yoy – June, prior 1.1%
08:30 Average Hourly Earnings YoY – July, prior 2.2%, est. 2.2%
08:30 Underemployment Rat (U6) – July, prior 14.3%
09:45 ISM New York – July, prior 47
10:00 Factory Orders – July, prior 2.1%, est. 2.2%

Fed Speak

12:15 James Bullard Speaks on U.S Economy in Boston

Global Economics (Time Zone: GMT)

01:30 AUD Producer Price Index
07:30 CHF SVME-Purchasing Manager Index
09:00 EUR Euro-Zone Producer Price Index

Earnings

Berkshire Hathaway (BRK-A) is expected to report EPS of $2,170.50


Here's a look at Minyanville's top market stories from the past week:

Ben Bernanke Beliebers, US Demographics, and a Stock Market Correction

Why Housing Prices Suggest the Recovery Will Gain Strength

Apple Inc.'s Feud With Samsung Puts Future Innovation at Risk

The Technicals Say Correction, the Markets Say Incorrect

Looking for a Buyable Consumer Stock? Good Luck With That

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.
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.

PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE