Trading Radar: Markets Banking on Goldman Earnings
Stay one step ahead of the rest.
The most important earnings reports of the week will be from the banks as most of the majors-Bank of America (BAC), Citigroup (C) and JP Morgan (JPM)-will report numbers.
Goldman Sachs (GS) will lead off Tuesday before the bell. The company has been in the news a lot lately, with the Rolling Stone article, record bonuses, program trading thiefs and the CFTC policing derivatives. The company was just upgraded by Bank of America Merrill Lynch to "Buy" from "Neutral" with a price target of $174. The research analyst believes Goldman benefits from the wide bid/ask spreads in the fixed income market and he believes global equity underwriting were strong in the second quarter. Wall Street is expecting the company to report EPS of $3.48 with revenues of 10.6 billion.
Check out the full trading radar below.
Monday, July 13
02:00 Treasury Budget
After: CSX, NVLS
3-Month Bill Auction 1:00 PM ET
6- Month Bill Auction 1:00 PM ET
Tuesday, July 14
08:30 Core PPI 0.1% cons.
08:30 PPI 0.8% cons.
08:30 Retail Sales 0.5% cons.
08:30 Retail Sales ex-auto 0.5% cons.
10:00 Business Inventories -1.0% cons.
Before: GS, JNJ,
After: AIR, ADTN, ALTR, INTC, YUM
4-Week Bill Auction 1:00 PM ET
Wednesday, July 15
08:30 Core CPI 0.1% cons.
08:30 CPI 0.6% cons.
08:30 Empire Manufacturing -5.00 cons.
09:15 Capacity Utilization 67.9% cons.
09:15 Industrial Production -0.6% cons.
10:30 Crude Inventories
02:00 FOMC Minutes
Before: ABT, CBSH, GCI, LUFK, MTOX, TXI, WWW, WOR, GWW
After: CTAS, CCK, EWBC, JBHT, STLY, XLNX
Thursday, July 16
08:30 Initial Claims
09:00 Net Long- Term TIC Flows
10:00 Phildelphia Fed -5.0%
Before: BAX, BIIB, BLK, CY, FCS, HOG, JPM, MAR, MTG, NOK, PII, SON,
After: ANGO, ATR, CBST, GOOG, IBM, TPX
Friday, July 17
08:30 Building Permits 523k
08:30 Housing Starts 530k
Before: BAC, BMI, BBT, C, FHN, GE, MAT
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