Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Trading Radar: FOMC Minutes to Offer Investors QE Clues

By

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

PrintPRINT
US equities turned lower to start off the year, a very infrequent occurrence. Looking forward, the near-term direction of equities will be determined by the strength in employment and the rate at which monetary stimulus is withdrawn. Next Friday, the Labor Department will release the December 2013 nonfarm payrolls report. Economists estimate that the unemployment rate will remain unchanged at 7% despite an estimated 193,000 new jobs that are expected to have been added to the workforce. The ADP private payrolls report is due out next Wednesday morning; it will offer a preliminary idea of what job growth in December will look like. Also due out next week is the ISM services index on Monday morning.

The minutes of the December FOMC meeting will be released next Wednesday afternoon. It is very likely that they point towards the FOMC's intent to continue winding down asset purchases. On Friday, Richmond Fed President Jeff Lacker said that it would take significantly weaker economic activity to slow the tapering of asset purchases.

The ECB and Bank of England will make their monthly monetary policy decisions on Thursday before the US market opens. It is very likely that the ECB keeps up its dovish rhetoric and its commitment to boosting inflation in the eurozone. The Bank of England has turned slightly more hawkish as the unemployment rate in the UK has continued to decline.

Fourth-quarter 2013 earnings will get going in earnest starting on January 9. Alcoa (NYSE:AA) is set to report after the market closes on Thursday. Other notable reports for the week include Micron Tech (NASDAQ:MU), Family Dollar (NYSE:FDO), Monsanto (NYSE:MON), Constellation Brands (NYSE:STZ), and Bed Bath & Beyond (NASDAQ:BBBY).

Monday, January 6

US Economics (Time Zone: EST)

10:00 ISM Services - expected 54.5, prior 53.9
10:00 Factory Orders - exp 1.7%, prior -0.9%
11:00 Fed buying $1b-$1.5b bonds in 23 to 30-year range
11:30 Treasury selling $30b 3-month, $26b 6-month bills

5:30pm US Senate to vote on Yellen confirmation as Fed chair

Global Economics (Time Zone: GMT)

01:45 CNY HSBC/Markit Services PMI
09:00 EUR Eurozone Services PMI (final estimate)
09:30 GBP Services PMI
09:30 EUR Eurozone Sentix Investor Confidence
13:00 EUR German CPI (preliminary estimate)

Earnings

No reports scheduled


Tuesday, January 7

US Economics (Time Zone: EST)

08:30 Trade Balance - exp -$40.0B, prior -$40.6B
11:00 Fed buying $2.25b-$3b in 7 to 10-year range
11:30 Treasury selling 4-week bills, $23b 52-week bills
1:00 Treasury selling $30b 3-year notes

Fedspeak

8:30am Rosengren speaks in Conneticut
2:10pm Williams speaks in Phoenix

Global Economics (Time Zone: GMT)

00:30 AUD Trade Balance
08:55 EUR German Unemployment Rate
10:00 EUR Eurozone CPI Estimate

Earnings

After:
Micron Tech (MU)
Apollo Education Group (APOL)


Wednesday, January 8

US Economics (Time Zone: EST)

07:00 MBA Mortgage Apps
08:15 ADP Private Payrolls - expected 200K, prior 215K
11:00 Fed buying $1b-$1.5b bonds in 23 to 30-year range
1:00 Treasury selling $21b 10-year notes (2nd reopening)
2:00 Dec FOMC Meeting Minutes
3:00 Consumer Credit - exp $13.75B, prior $18.186B

Global Economics (Time Zone: GMT)

CNY Trade Balance
07:00 EUR German Trade Balance
10:00 EUR Eurozone Retail Sales
10:00 EUR Eurozone Unemployment Rate
11:00 EUR German Factory Orders

Earnings

Before:
Family Dollar (FDO)
Constellation Brands (STZ)
Monsanto (MON)

Bed Bath & Beyond (BBBY)


Thursday, January 9

US Economics (Time Zone: EST)

07:30 Challenger Job Cuts YoY - prior -20.6%
08:30 Initial Jobless Claims- expected 335K, prior 339K
08:30 Continuing Claims - exp 2890K, prior 2833K
11:00 Fed buying $600m-$900m bonds in 11 to 19-year range
1:00 Treasury selling $13b 30-year bonds (2nd reopening)

10:00am US House monetary policy subcommittee meets to discuss Fed bond buying

Fedspeak

1:30pm George speaks in Wisconsin

Global Economics (Time Zone: GMT)

CNY CPI
00:30 AUD Retail Sales
09:30 GBP Trade Balance
10:00 EUR Eurozone Consumer Confidence
11:00 EUR German Industrial Production
12:00 GBP BoE Rate Decision
12:45 EUR ECB Rate Decision
13:15 CAD Housing Starts
13:30 CAD New Home Prices

Earnings

After
Alcoa (AA)

SUPERVALU (SVU)
Texas Industries (TXI)


Friday, January 10

US Economics (Time Zone: EST)

08:30 Nonfarm Payrolls - expected 195K, prior 203K
08:30 Private Payrolls - exp 195K, prior 196K
08:30 Manufacturing Payrolls - exp 15K, prior 27K
08:30 Unemployment Rate - exp 7.0%, prior 7.0%
08:30 Average Weekly Hours - exp 34.5, prior 34.5
10:00 Wholesale Inventories - exp 0.4%, prior 1.4%
11:00 Fed buying $2.5b-$3.5b notes in 5 to 6-year range

Fedspeak

8:45am Lacker speaks in NC
1:00pm Bullard speaks in Indianapolis

Global Economics (Time Zone: GMT)

JPY Japanese Investors Purchases of Foreign Stocks/Bonds
05:00 JPY Leading Index
06:45 CHF Unemployment Rate
08:00 CHF CPI
09:30 GBP Industrial and Manufacturing Production
09:30 GBP Construction Output
13:30 CAD Employment Change
15:00 GBP NIESR GDP Estimate

Earnings

No reports scheduled


Twitter: @MichaelSedacca

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

PrintPRINT

Busy? Subscribe to our free newsletter!

Submit
 

WHAT'S POPULAR IN THE VILLE