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Trading Radar: Tech and Bank Earnings Dominate Next Week

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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 earnings and economic data, it will be nice to see things pick up in the coming week. JPMorgan (NYSE:JPM) and Wells Fargo (NYSE:WFC) failed to impress the market amidst shrinking net interest margins; in the coming week, there will be no shortage of bank earnings that will probably follow a similar path.

Also on the radar are many tech earnings. Google (NASDAQ:GOOG), Intel (NASDAQ:INTC), Microsoft (NASDAQ:MSFT), and SanDisk (NASDAQ:SNDK) will all report.

On the economic front, Thursday morning will be a data dump for China. With China growth continuing to slow and monetary and fiscal authorities looking to step up to ease, ever increasing inflation in China is not a positive sign. Also on the inflation radar is the UK, eurozone, and New Zealand.

On the US economic front, retail sales will be reported on Monday along with a slew of housing data. Tuesday's NAHB Housing Market Index has shown steady growth over the past six months and is now at the highest point since 2007. Housing starts, building permits, and existing home sales have continued to show steady growth, potentially representing a turn in the housing market.

Monday, October 15

US Economics (Time Zone: EDT)

08:30 Empire Manufacturing – consensus -4.00, prior -10.41
08:30 Retail Sales – consensus 0.8% prior 0.9%
08:30 Retail Sales Less Autos – consensus 0.6%, prior 0.8%
08:30 Retail Sales Ex Auto & Gas – consensus 0.4%, prior 0.1%
10:00 Business Inventories – consensus 0.5%, prior 0.8%
11:00 Fed to purchase $4.25b-$5.25b in 6 to 8-year notes
11:30 Treasury to sell $32b 3-month, $28b 6-month bills

Global Economics (Time Zone: GMT)

00:30 AUD Home Loans
01:30 CNY CPI
04:30 JPY Industrial Production
14:30 CAD Business Outlook
21:45 NZD CPI
10:30 Germany to sell EU4b in 6-month bills
13:00 France to sell in bills

Earnings

Before:
Charles Schwab (SCHW) EPS 17c
Citigroup (C) EPS 97c
Gannett (GCI) EPS 53c
After:
Packaging Corp of America (PKG) EPS 56c

Tuesday, October 16

US Economics (Time Zone: EDT)

08:30 Consumer Price Index YoY – consensus 1.9%, prior 1.7%
08:30 CPI Ex Food & Energy – consensus 2.0%, prior 1.9%
08:30 CPI NSA – consensus 231.360, prior 230.379
09:00 Total Net TIC Flows – prior $73.7B
09:00 Net Long-term TIC Flows – prior $67.0B
09:15 Industrial Production – consensus 0.2%, prior -1.2%
09:15 Capacity Utilization – consensus 78.3%, prior 78.2%
10:00 NAHB Housing Market Index – consensus 41, prior 40
11:00 Fed purchasing $4.5b-5.5b notes in 8 to 10-year range
11:30 US selling $25b in 52-week bills, 4-week bills

Global Economics (Time Zone: GMT)

08:30 GBP PPI
08:30 GBP CPI
09:00 EUR Eurozone CPI
09:00 EUR German ZEW Sentiment
11:00 EFSF to sell 6-month bills
12:00 Greece to sell 91-day bills

Earnings

Before:
Coca-Cola (KO) EPS 50c
PNC Financial (PNC) EPS $1.66
Mattel (MAT) EPS 99c
Goldman Sachs (GS) EPS $2.28
Johnson and Johnson (JNJ) EPS $1.21
WW Grainger (GWW) EPS $2.89
After:
Cree (CREE) EPS 26c
CSX (CSX) EPS 43c
Apollo (APOL) EPS 49c
Intel (INTC) EPS 50c
State Street (STT) 96c

Wednesday, October 17

US Economics (Time Zone: EDT)

07:00 MBA Mortgage Purchase Index
08:30 Housing Starts – consensus 770K, prior 750K
08:30 Building Permits – consensus 810K, prior 801K
11:00 Fed to sell $7b-$8b notes in 3-year range

Global Economics (Time Zone: GMT)

06:00 JPY Machine Tool Orders
08:30 GBP BoE Minutes
08:30 GBP Unemployment
09:00 CHF ZEW Survey
10:00 Italy to sell bills
10:30 Germany to sell EU5b in 2-year notes

Earnings

Before:
Abbott Labs (ABT) EPS $1.28
Blackrock (BLK) EPS $3.29
Black & Decker (DECK) EPS $1.45
US Bancorp (EPS) 73c
Knight Capital (EPS) -$2.45
Bank of NY Mellon (BNY) EPS 55c
Pepsi (PEP) EPS $1.16
Bank of America (BAC) EPS 16c
St Jude Medical (STJ) EPS 81c
After
Stryker (SYK) EPS 99c
American Express (AXP) EPS $1.08
eBAY (EBAY) EPS 55c
SLM (SLM) EPS 54c
Halliburton (HAL) EPS 67c

Thursday, October 18

US Economics (Time Zone: EDT)

08:30 Initial Jobless Claims – consensus 365K, prior 339K
08:30 Continuing Claims – consensus 3275K, prior 3273K
10:00 Philly Fed – consensus 0.0, prior -1.9%
10:00 Leading Indicators – consensus 0.2%, prior -0.1%
11:00 Fed to buy $1.75b-$2.25b notes in 25 to 30-year range
1:00 US selling $7b in 30-year TIPS (reopening)

Global Economics (Time Zone: GMT)

01:30 CNY China Property Prices
02:00 CNY Industrial Production
02:00 CNY Real GDP
02:00 CNY Retail Sales
08:30 GBP Retail Sales
12:30 CAD Wholesales Sales
9:30 Spain to sell 3, 4, 10-year bonds
10:30 UK to sell 7-year bonds

Earnings

Before:
BB&T (BBT) EPS 72c
Keycorp (KEY) EPS 21c
Traveler's Insurance (TRV) EPS $1.51
Cypress Semiconductor (CY) EPS 20c
Southwest Airline (LOVE) EPS 13c
Fifth Third Bancorp (FITB) EPS 39c
Phillip Morris (PM) EPS $1.39
Morgan Stanley (MS) EPS 25c
Verizon (VZ) EPS 65c
Union Pacific (UNP) EPS $2.17
After
Chipotle (CMG) EPS $2.29
Capital One Financial (COF) EPS $1.75
Riverbed (RVBD) EPS 25c
Microsoft (MSFT) EPS 59c
Google (GOOG) EPS $10.54
Sandisk (SNDK) EPS 33c
Etrade (ETFC) EPS 8c
Advanced Micro Devices (AMD) EPS -17c
Blackstone (BX) EPS 41c

Friday, October 19

US Economics (Time Zone: EDT)

10:00 Existing Home Sales – consensus 4.75M, prior 4.82M
11:00 Fed to sell $750m-$1.1b TIPS in the 2 to 4-year range

Global Economics (Time Zone: GMT)

02:00 NZD Credit Card Spending
05:00 JPY Leading Index
06:00 EUR German PPI
08:30 GBP Public Sector Borrowing
12:30 CAD CPI

Earnings

Before:
McDonald's (MCD) EPS $1.48
Honeywell (HON) EPS $1.14
General Electric (GE) EPS 36c
Baker Hughes (BHI) EPS 84c
Wynn Resorts (WYNN) EPS $1.34
Schlumberger (SLB) EPS $1.06

Twitter: @MichaelSedacca

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