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Trading Radar: Markets Enter Busiest Week For Economic Data in the Third Quarter

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

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Next week will be the busiest week of the quarter, and beyond, in terms of economic data releases. Notable reports for the week include June personal spending, the advance estimate of 2Q GDP, July nonfarm payrolls, July auto sales, July ISM manufacturing survey, July ADP private payrolls, the FOMC meeting, Chicago PMI, and Treasury auctions of 2-, 5-, and 7-year notes . I would be paying the most attention to GDP, NFP, and the FOMC meeting.

It will also be extremely busy on the earnings front. By my count, 232 major US companies will report next week.

Monday, July 28

US Economics (Time Zone: EST)

10:00 Pending Home Sales YoY (June) - expected 0.2%, prior 6.1%
10:30 Dallas Fed - exp 12.0, prior 11.4
11:00 Fed to purchase $1b-$1.25b bonds in 22-30 year range
11:30 Treasury to sell $27b 3-month bills and $24b 6-month bills
1:00 Treasury to sell $29b 2-year notes

Global Economics (Time Zone: GMT)

No major reports scheduled

Earnings

Before:
Cummins (CMI)
Tyson Foods (TSN)

After:
Eastman Chemical (EMN)
Masco (MAS)
Range Resources (RRC)
Herbalife (HLF)
American Capital Agency Corp (AGNC)

Tuesday, July 29

US Economics (Time Zone: EST)

09:00 S&P/Case Shiller 20 City MoM (May) - expected 0.30%, prior 0.19%
09:00 S&P/CS YoY - exp 9.8%, prior 10.82%
10:00 Consumer Confidence Index (July) - exp 85.5, prior 85.2
10:00 Existing Home Sales (June) - exp 4.99M, prior 4.98M
11:00 Fed to purchase $300m-$450m notes in 10 to 19-year range
11:30 Treasury to sell 4-week bills
1:00 Treasury to sell $35b 5-year notes

Global Economics (Time Zone: GMT)

JPY Employment Statistics
05:00 JPY Small Business Confidence
08:30 GBP Mortgage Lending

Earnings

Before:
Corning (GLW)
Eaton (ETN)
International Paper (IP)
Merck (MRK)
Pfizer (PFE)
AGCO (AGCO)
AK Steel (AKS)
Arch Coal (ACI)
Wynn Resorts (WYNN)
HCA Holdings (HCA)
Aetna (AET)
Sirius XM (SIRI)
UPS (UPS)
Ally Financial (ALLY)

After:
Aflac (AFL)
American Express (AXP)
Anadarko Petroleum (APC)
Newmont Mining (NEM)
US Steel (X)
Panera (PNRA)
Express Scripts (EXPR)
Buffalo Wild Wings (BWLD)
Twitter (TWTR)

Wednesday, July 30

US Economics (Time Zone: EST)

07:00 MBA Mortgage Apps
08:15 ADP Employment Change (July) - expected 235K, prior 281K
08:30 GDP Annualized QoQ (2Q advance) - exp 3.0%, prior -2.9%
08:30 Personal Consumption - exp 1.9%, prior 1.0%
08:30 GDP Price Index - exp 1.8%, prior 1.3%
08:30 Core PCE QoQ - exp 1.9%, prior 1.2%
2:00 FOMC Rate Decision (no post meeting press conference or econ projections)
11:30 Treasury to sell $15b 2-year FRN
1:00 Treasury to sell $29b 7-year notes

Global Economics (Time Zone: GMT)

JPY Industrial Production
01:45 CNY Westpac-MNI Consumer Sentiment
09:00 EUR Eurozone Consumer and Economic Confidence
12:00 EUR German CPI (July prelim)

Earnings

Before:
Hess (HES)
Lorillard (LO)
Carlyle Group (CG)
Valero Energy (VLO)
Humana (HUM)
Wellpoint (WLP)
American Tower Corp (AMT)
Sprint (S)
Phillips 66 (PSX)

After:
Kraft Foods (KRFT)
Allstate (ALL)
Tesoro (TSO)
Western Digital (WDC)
Whole Foods Market (WFM)
Shutterfly (SFLY)
Metlife (MET)
ServiceNow (NOW)
Lifelock (LOCK)
Yelp (YELP)

BioMarin Pharma (BMRN)
Akamai (AKAM)

Thursday, July 31

US Economics (Time Zone: EST)

07:30 Challenger Job Cuts YoY - prior -20.2%
08:30 Initial Jobless Claims - exp. 305k, prior 284k
08:30 Continuing Claims - prior 2500k
09:00 ISM Milwaukee - exp 63.0, prior 62.6
09:45 Chicago PMI (July) - exp 63.0, prior 62.6
11:00 Fed to purchase $1b-$1.25b bonds in 22 to 30-year range

Global Economics (Time Zone: GMT)

Japan Investors Purchases of Foreign Stocks/Bonds
01:30 AUD Building Approvals
05:00 JPY Housing Starts
07:55 EUR German Unemployment Change
09:00 EUR Eurozone CPI Estimate (July)
12:30 CAD GDP

Earnings

Before:
Avon Products (AVP)
Cigna (CI)
Colgate-Palmolive (CL)
Exxon Mobil (XOM)
ConocoPhillips (COP)
McKesson (MCK)
Walter Energy (WLT)
Ocwen Financial (OCN)
CME Group (CME)
Time Warner Cable (TWC)
Mastercard (MA)
T-Mobile (TMUS)
Legg Mason (LM)
Mosaic (MOS)
Discovery Communications (DISCA)
Apache (APA)
Kellogg (K)

After:
Kodiak Oil & Gas (KOG)
LinkedIn (LNKD)
Expedia (EXPE)
Tesla Motors (TSLA)

3D Systems (DDD)
DirecTV (DTV)
Marathon Petroleum (MPC)

Friday, August 1

US Economics (Time Zone: EST)

08:30 Nonfarm Payrolls (July) - expected 230K, prior 288K
08:30 Private Payrolls - exp 228K, prior 262K
08:30 Manufacturing Payrolls - exp 15K, prior 16K
08:30 Unemployment Rate - exp 6.1%, prior 6.1%
08:30 Average Hourly Earnings YoY - exp 2.2%, prior 2.0%
08:30 Average Weekly Hours - exp 34.5, prior 34.5
08:30 Personal Income (June) - exp 0.4%, prior 0.4%
08:30 Personal Spending (June) - exp 0.4%, prior 0.2%
08:30 PCE Deflator YoY (June) - exp 1.6%, prior 1.8%
08:30 PCE Core YoY (June) - exp 1.4%, prior 1.5%
09:55 University of Michigan Consumer Confidence (July final) - exp 81.5, prior 81.3
10:00 ISM Manufacturing (July) - exp 56.0, prior 55.3
10:00 ISM Prices Paid - exp 58.0, prior 58.0
10:00 Construction Spending (June) - exp 0.5%, prior 0.1%
5:00 Domestic Vehicle Sales (July) - exp 13.2M, prior 13.25M
5:00 Total Vehicle Sales - exp 16.79M, prior 16.92M

Global Economics (Time Zone: GMT)

01:00 CNY Manufacturing PMI
01:45 CNY HSBC China Manufacturing PMI (July final)
08:00 EUR Eurozone manufacturing PMI (July final)
08:30 GBP Manufacturing PMI
13:30 CAD RBC Canadian Manufacturing PMI

07:30 BoJ's Kuroda speaks at research institute in Japan

Earnings

Weyerhauser (WY)
Procter & Gamble (PG)
Chevron (CVC)
Southwestern Energy (SWN)

Twitter: @MichaelSedacca

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