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Trading Radar: Big Week for Economic Data

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

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MINYANVILLE ORIGINAL After a slow week in terms of economic data, all of it will come due this coming week. Much of the month's housing and economic data will be reported from Tuesday through Friday. The important data in the US this week includes durable goods, Chicago PMI, new home sales, and the different personal consumer indicators. This week's GDP reading will be the second revision, so the likelihood of any drastic changes is diminished. The Michigan Consumer Confidence report will be the revised number, also decreasing the chances of a big change.

In Europe, a Spanish bailout will likely continue to make headlines throughout the week. There is the possibility that Spain may ask for an enhanced credit line from the EU on Friday. The UK will report its GDP, Germany will report CPI and consumer confidence, and Japan will report employment and industrial production.

In earnings, key reports include Lennar Homes (NYSE:LEN), Nike (NYSE:NKE), Discover Financial (NYSE:DFS), and Walgreen (NYSE:WAG).

Monday, September 24

US Economics (Time Zone: EDT)

08:30 Chicago Fed – prior -0.13
10:30 Dallas Fed – prior -1.6
11:00 Fed to buy $1.5b-$2b notes in 25 to 30-year range
11:30 Treasury to sell $32b 3-month, $28b 6-month bills

Global Economics (Time Zone: GMT)

08:30 EUR German IFO Business Climate
10:30 Germany to sell EU3b in 12-month bills
13:00 France to sell in bills

Earnings

Before:
Lennar (LEN) EPS 28c
After:
Red Hat (RHT) EPS 29c

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No positions in stocks mentioned.

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