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Trading Radar: Will a Weak Jobs Report Lead to More Easing?

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

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Next week we'll see the monthly jobs report for the US. With GDP coming in below expectations on Friday and Federal Reserve Chairman Ben Bernanke hinting that the Fed is prepared to commit more monetary easing measures to keep the US growing, a weak number may be viewed as positive for the markets. Manufacturing data for the US is also due out next week, with economists expecting a contraction.

The European Central Bank will make its rate decision on Thursday, with economists expecting no change in the benchmark interest rate. However, there is chatter that the head of the ECB Mario Draghi may introduce new non-standard measures to keep liquidity in European credit markets.

Key earnings reports include McKesson (MCK), Pfizer (PFE), BP (BP), Valero Energy (VLO), and Broadcom (BRCM).

Monday, April 30

US Economics (Time Zone: EDT)

08:30 Personal Income - consensus 0.3%
08:30 Personal Spending - consensus 0.4%
08:30 PCE Deflator - consensus 0.3%
08:30 PCE Core - consensus 0.2%
09:45 Chicago PMI - consensus 60.5
10:00 NAPM Milwaukee - consensus 53.0
10:30 Dallas Fed - consensus 8.0
11:00 Fed buying $1.5b-$2b notes in 25 to 30-year range
11:30 Treasury selling $30b 3-month notes, $28b 6-month note

Global Economics (Time Zone: GMT)

01:30 AUD Private Sector Credit
09:00 EUR Euro-zone CPI
12:30 CAD GDP

Earnings

Before: ALR, AHGP, ARLP, AWI, BWP, CYOU, CNA, CPO, DRH, DSPG, FVE, HAE, HAR, HEP, HUM, LDK, L, LPLA, LYB, MCY, NYX, ONB, SNH, SOHU, TEN, TNB, UDR, UNS, WDR, WSO, WPI
After: AEIS, ADVS, AFG, APC, ARRY, BALT, DVR, CATM, CBL, CIM, CLD, CGNX, CRK, DAC, DENN, DLLR, EEP, EXR, FLS, FMC, FST, GNK, BGC, HLF, HOLX, IDTI, IVAC, JEC, KAMN, KRC, KONA, KRA, LMNX, MAS, MCK, MDU, MIG, MERU, MOH, MPWR, EGOV, NUVA, PRXL, PKY, PRE, PLXT, PMCS, PSB, KWR, QNST, RGA, RTEC, SBAC, SREV, SHOR, SFLY, FIRE, SPF, STXS, SU, TXRH, UAM, VHS, VECO, VVUS, WMS


Tuesday, May 1

US Economics (Time Zone: EDT)

10:00 Construction Spending - consensus 0.5%
10:00 ISM Manufacturing - consensus 53.0
10:00 ISM Prices Paid - consensus 58.5
5:00 Total Vehicle Sales - consensus 14.45M
5:00 Domestic Vehicle Sales - consensus 11.15M
11:00 Fed to purchase $4.25b-$5b in 6 to 8-year notes
11:30 Treasury selling 4-week bills
1:00 US selling $35b 2-year notes

Global Economics (Time Zone: GMT)

EUR German Retail Sales
01:30 AUD House Price Index
04:30 AUD Reserve Bank of Australia Rate Decision
08:30 GBP PMI

Earnings

Before: CAS, AMG, AGCO, GAS, ALLT, ECOL, ACI, ADM, ARW, ATRO, ADP, AVP, BDX, BIIB, BP, BPI, BRKR, CZR, CCC, CCJ, CIE, CMI, CYNO, XRAY, DIN, DPZ, DORM, DST, ECL, EMR, ENDP, EXAS, FCH, FE, FWLT, FDP, GKSR, GWR, GLT, GOV, HRS, HCP, HPY, HSP, HUN, IPXL, IPGP, JKS, KNOL, KLIC, FSTR, LM, MMC, MLM, MDSO, TYPE, NI, ODP, OSG, PFCB, PFE, PNK, POZN, PLD, RDN, RDWR, ABH, RIGL, SIRI, SPAR, SAVE, SRI, SXC, TLM, TECH, TFX, TRI, TRW, VLO, VQ, VPHM, WRES, WLK, WEC
After: ALSK, ARE, ALNY, AMAG, DOX, ACAS, ANAD, AJG, AZPN, ATW, RATE, BGFV, BIO, BMR, BXP, BRE, BRCM, BTUI, CBT, CALX, CECO, CHSI, CAVM, CBOE, CBS, CHMT, CHK, CNW, CGX, CSGS, CW, CVI, UAN, DVA, DDR, DGI, DEI, BOOM, EXAC, XCO, FEIC, FISV, FBC, FLEX, FORM, GGP, GHDX, GNW, GEVO, HR, HT, ONE, HIW, IPHS, IN, JKHY, JAZZ, JLL, KNXA, KEYN, KFRC, KND, MMI, MOTR, MWA, MYGN, NBIX, NTRI, OCZ, OKE, OKS, OTEX, OPEN, PZZA, PEET, PSEM, PLT, PRI, QSFT, QUIK, RAH, RLOC, RGC, RBC, ROG, SIMG, STRI, RGR, TMH, TE, TTEC, THOR, TWTC, TNS, TRIP, TRLG, TTMI, UBNT, UTI, UNM, VRSK, VOCS, WTS, WWWW, WBMD, INT, WMGI, AUY, ZIPR


Wednesday, May 2

US Economics (Time Zone: EDT)

07:00 MBA Mortgage Purchase Index
08:15 ADP Employment Change - consensus 175K
09:45 ISM New York
10:00 Factory Orders - consensus -1.5%
1:00 US to sell $35b 5-year notes

Global Economics (Time Zone: GMT)

01:30 JPY Labor Cash Earnings
07:15 CHF Retail Sales
07:55 EUR German Unemployment Change
07:55 EUR German PMI
08:30 GBP Net Consumer Credit
09:00 EUR Euro-Zone Unemployment Rate
22:45 NZD Unemployment Rate

Earnings

Before: AMRI, AGN, ALE ,AB, AFAM, AGP, ASCA, AVA, ABX, BZH, CLDX, CEVA, CLH, CLX, CMCSA, CBE, CTB, COT, CVS, DWSN, DVN, EE, END, ENR, EPD, FELE, BEN, GRMN, GEO, GTN, WOLF, HSC, HSNI, IACI, ICE, KCP, MAC, MMP, MPC, MSO, MA, MTRO, MDS, MSCI, NICE, NVMI, OIIM, OZM, OHI, PKD, PCG, PNX, PEG, RDC, RRD, SEIC, SBGI, SKYW, SPW, SMP, SRZ, TWX, GTS, UBS, VNR, VSH, VC, VG, WCG, WXS
After: APKT, AEA, ABCO, AWH, ALL, AGNC, AEL, AWK, ANDE, NLY, ARTC, ATML, ATO, AVNW, AXTI, SAM, BKD, CACI, CALD, CBEY, CENT, CRL, CNL, FIX, SCOR, CXO, CNQR, CLR, EXBD, CXW, CVD, DCT, DK, DWRE, DXCM, DHT, DRWI, DWA, DXPE, DX, EIX, EDMC, ELLI, ENH, ERII, ETP, ETE, EXXI, ENSG, EQY, ERT, ESS, EXM, EXL, EXLS, EXPD, EXTR, FARO, GGC, GERN, GLUU, GMXR, GBCD, GMCR, GLF, HGR, NSN, HIG, HTZ, ICFI, NSIT, TEG, IPI, IO, JDSU, KS, KERX, KIM, LGCY, LHCG, LBTYA, LNC, MMLP, MASI, MTRX, MXL, MDAS, MELI, MTD, MUR, NATL, NRP, NCIT, NKTR, NGD, NEWP, NVTL, NVEC, OMCL, ONNN, ONXX, OSUR, PDLI, PVA, PMC, PXD, PPO, PRU, QLTY, RNWK, REG, RNR, RRTS, SGMO, SGK, SWM, SKH, SKUL, SM, SMSI, SCCO, STAA, SUN, SXL, SPRT, SRDX, SYMC, TSO, TTEK, RIG, TCAP, TGI, UDRL, UNTD, VCLK, VVC, V, VOLC, WLT, WTW, WES, WGL, WFM, XNPT, YELP, Z


Thursday, May 3

US Economics (Time Zone: EDT)

08:30 Initial Jobless Claims – consensus 380K
08:30 Continuing Claims – consensus 3312K
08:30 Nonfarm Productivity - consensus -0.5%
10:00 ISM Non-manufacturing Composite - consensus 50.5
11:00 Fed to purchase $1.5b-$2b notes in 25 to 30-year range
1:00 Treasury selling $29b 7-year notes

Global Economics (Time Zone: GMT)

08:30 GBP PMI
09:00 EUR Euro-zone PPI
11:45 EUR ECB Rate Decision

Earnings

Before: FLWS, AAON, ACIW, ACOR, ACM, AYR, ARG, ATK, ANR, AEE, AMT, ANAC, ANSS, APA, ARQL, AAWW, ATRC, AVEO, BCE, BEAM, BGCP, BBG, BLT, BBW, CVC, LSE, CAH, FUN, CNP, CKP, CI, XEC, CNK, CIR, CCOI, CFX, CWH, CNSL, COCO, CUB, DPM, DNR, DXS, DW, DUSA, EP, EPB, RDEN, NPO, ESV, EXH, FLY, FIG, FSYS, FBN, FSIN, IT, GM, GTIV, ROCK, GIL GLCH, GPX, HEES, HCA, HNT, HOS, HWCC, H, ICGE, IDA, IPCC, IRC, SNAK, ITG, IRDM, JRCC, KSWS, KNSY, LAMR, LEA, LPS, LVLT, LXP, TVL, LINC, LQDT, LFUS, LMIA, MFC, VAC, MMS, MDC, MPW, MD, MEA, MFA, MGM, BKR, MNTA, MWIV, NNN, NUR, NRF, NPSP, NRG, OCN, OGE, ZEUS, OMG, OWW, ORN, OXF, PCX, PMT, PRFT, PQ, PNW, PXP, POL, POR, PPL, PGN, PRLB, QLTI, PWR, GOLD, RNO, RBA, RSTI, RGLD, RTI, SBH, SLE, SCG, SNI, SEE, SSW, SRE, SMBL, SPR, STFC, SHOO, SPH, SNSS, SFY, SXCI, SMA, NGLS, TDC, TGH, TICC, TIE, TMS, TOWR, TRCR, USPH, UPL, ULBI, VRX, VTG, VIAB, VICL, WNR, FUR, WWE, XYL, ZIOP
After: JOBS, ACTV, BIRT, ADUS, AFFX, AIRM, ALIM, AIQ, ANV, ALJ, AIG, AHS, ARI, AIV, ALC, AUTH, ACLS, BONE, BEBE, BLKB, BODY, BCOV, CBM, CNQ, CFN, CBOU, CEC, CF, CBB, CDXS, COGO, CCIX, COMV, ED, CPNO, CUBE, CPIX, DEPO, DGIT, DRIV, DLB, DOLE, DRC, BAGL, EGO, EBS, ESC, EXAR, EXEL, FALC, FFG, FSLR, FLR, GPRO, GXP, GSIT, GUID, HAIN, HAYN, HME, INWK, IRF, INVN, ISIS, ISTA, JCOM, KEYW, KRG, KOG, KFT, KTOS, LF, LLNW, LNKD, MTW, MNKD, MANT, MCHX, MKL, MTZ, MGRC, MCHP, MSTR, MAA, MHK, MOVE, MTSC, MFLX, NCMI, NFG, NAVG, NTSP, OMPI, ONTY, OPWV, OPLK, PCC, PRAA, POWI, PWER, POWR, PSA, QLGC, RP, RWT, ROVI, RBCN, SABA, SB, SD, SAPE, SQI, SEM, SQNM, SWIR, SWN, SPRD, JOE, SPWR, SHO, TRGT, TESO, TRMB, UEIC, VISN, WRC, WAIR, WYNN, XOXO, YOKU, ZAGG, ZOLL, ZOLT


Friday, May 4

US Economics (Time Zone: EDT)

08:30 Nonfarm Payrolls - consensus 168K
08:30 Private Payrolls - consensus 173K
08:30 Manufacturing Payrolls - consesus 21K
08:30 Unemployment Rate - consensus 8.2%
08:30 Avg Hourly Earnings - consensus 0.2%
08:30 Avg Weekly Hours - consensus 34.5
11:00 Fed selling $8b-$8.75b notes in 2 to 3-year range

Global Economics (Time Zone: GMT)

01:30 AUD Reserve Bank Board
07:55 EUR German PMI
09:00 EUR Euro-Zone Retail Sales

Earnings

Before: AES, LNT, ARGN, AON, ARCO, BPO, BPL, CHD, CCO, DUK, ELT, EL, EXC, FSS, HALO, ZINC, ITT, KOP, MINI, NVAX, NWN, POM, PNM, SNMX, SIRO, SE, SEP , TDS, USM, WCRX
After:


Twitter: @MichaelSedacca

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No positions in stocks mentioned.

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