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Trading Radar: Earnings Week for Retailers

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

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MINYANVILLE ORIGINAL Next week will see the spotlight of economic data shift to Europe and the rest of the world after a busy week for the US. Important data includes factory orders in Germany and industrial production from the UK. More importantly, we see a slew of data from China on Thursday. CPI, PPI, retail sales and industrial production will forecast how much the Chinese economy is slowing.

In the US it will be a quiet week, but consumer credit will be an important number to determine whether or not the positive data we've seen over the past week is the start of a trend.

On the news front, Greece will negotiate with Troika officials over the weekend to secure the next tranche of aid from the EU. IMF and EU officials have disagreed with Greece over the implementation of EU11.5 billion in austerity measures which has resulted in the temporary halting of aid payments.

On the earnings front, we'll see key reports from Chesapeake Energy (CHK), Walt Disney (DIS), News Corp (NWSA), Fusion-io (FIO) and CF Industries (CF).

Monday, August 6

US Economics (Time Zone: EDT)

No major economic reports
11:00 Fed to purchase $4.5b-$5.5b notes in 8 to 10-year range
11:30 Treasury selling $32b 3-month bills, $28b 6-month bills

Global Economics (Time Zone: GMT)

05:00 JPY Leading Index
06:30 EUR Eurozone Sentinx Investor Confidence
22:45 NZD Average Hourly Earnings
10:00 Netherlands to sell EU4b in bills
14:00 France to sell bills

Earnings

Before:
HCA Holdings (HCA) EPS 78c
After:
Chesapeake Energy (CHK) EPS 7c
Caesars (CZR) EPS -96c
CF Industries (CF) EPS $8.71


Tuesday, August 7

US Economics (Time Zone: EDT)

10:00 JOLTS Job Openings - prior 3642
3:00 Consumer Credit – consensus $10.00B, prior $17.12B
11:00 Fed buying $4.25b-5b in 6 to 8-year range
11:30 Treasury selling 4-week bills
1:00 Treasury selling $32b 3-year notes


Global Economics (Time Zone: GMT)

04:30 AUD RBA Rate Decision
05:45 CHF Unemployment Rate
07:15 CHF CPI
08:30 GBP Industrial Production
09:00 EUR Italian GDP
10:00 EUR German Factory Orders
23:50 JPY Trade Balance
11:00 Greece to sell EU625m 6-month bills
12:00 EFSF to sell EU1.5b 3-month bills

Earnings

Before:
Sirius (SIRI) EPS 2c
MGM (MGM) -15c
CVS Caremark (CVS) EPS 74c
After:
Walt Disney (DIS) EPS 93c
Priceline.com (PCLN) EPS $7.36
Express Scripts (ESRX) EPS 82c
Cablevision (CVC) EPS 19c


Wednesday, August 8

US Economics (Time Zone: EDT)

07:00 MBA Mortgage Purchase Index
08:30 Nonfarm Productivity – consensus 1.4%, prior -0.9%
08:30 Unit Labor Costs – consensus 0.4%, prior 1.3%
11:00 Fed to purchase $1.5b-$2b in 25 to 30-year range
1:00 Treasury selling $24b in 10-year notes

Global Economics (Time Zone: GMT)

01:30 AUD Home Loans
04:30 JPY Bankruptcies
06:00 EUR German Trade Balance
09:30 GBP BoE Inflation Report
22:45 NZD Unemployment Rate
23:50 JPY Machine Orders
12:30 Germany to sell EU4b 10-yr notes

Earnings

Before:
Alpha Natural Resources (ANR) EPS -32c
Ralph Lauren (RL) EPS $1.77
After:
News Corp (NWSA) EPS 32c
Monster Beverage (MNST) EPS 61c
Macy's (M) EPS 64c


Thursday, August 9

US Economics (Time Zone: EDT)

08:30 Initial Jobless Claims – consensus 370K, prior 365K
08:30 Continuing Claims – consensus 3272K, prior 3272K
08:30 Trade Balance – consensus -$47.5B, prior -$48.7B
10:00 Wholesale Inventories – consensus 0.3%, prior 0.3%
11:00 Fed buying $1b-$1.5b TIPS in 7 to 30-year range
1:00 Treasury selling $16b 30-year bonds

Global Economics (Time Zone: GMT)

JPY Bank of Japan Rate Decision
01:30 AUD Employment Change
01:30 CNY CPI
01:30 CNY PPI
05:00 JPY Consumer Confidence
05:30 CNY Industrial Production
05:30 CNY Retail Sales
12:15 CAD Housing Starts

Earnings

Before:
Kohl's (KSS) EPS 96c
Advance Auto Parts (AAP) EPS $1.40
After:
NVIDIA (NVDA) EPS 22c
Fusion-IO (FIO) EPS 4c
Nordstrom (JWM) EPS 74c


Friday, August 10

US Economics (Time Zone: EDT)

08:30 Import Price Index MoM – consensus 0.2%, prior -2.7%
08:30 Import Price Index YoY – consensus -2.7%, prior -2.6%
02:00 Monthly Budget Statement – consensus -$103.0B
11:00 Fed to sell $7b-$8b notes in 1-2 year range

Global Economics (Time Zone: GMT)

04:30 JPY Industrial Production
06:00 EUR German CPI
08:30 GBP PPI
12:30 CAD Unemployment Rate
11:10 UK to sell bills

Earnings

Before:
JC Penney (JCP) EPS -23c

Twitter: @MichaelSedacca

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