Wall Street Greek: Geopolitical Meetings Swell New York

Morning Greek

You will want to avoid New York City's East Side this week, unless you are an Ahmadinejad protestor or a Hugo Chavez groupy. All those sorts, and their machine gun toting, staring at you out the window of a quickly moving SUV types, will be cluttering my fair city this week. They will fill her restaurants with their excessively round bottoms and the devils' tongues will flood your ears. Stay away, for your own sake! And pray for us who cannot escape the mayhem that will ruin public transit travel this accursed week.

Our founder earned clients a 23% average annual return over five years as a stock analyst on Wall Street. "The Greek" has written for institutional newsletters, Businessweek, Real Money, Seeking Alpha and others, while also appearing across TV and radio. While writing for Wall Street Greek, Mr. Kaminis presciently warned of the financial crisis.

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Geopolitical Meetings Swell New York

Monday's are regularly tailored to ease the investment community back into the mood. The economic report schedule is, therefore, often light on Mondays. The last thing we want is to give a bunch of wealthy and often artery-clogged folks an upsetting morning. This day and week have a serious leaning though, toward the geopolitical. There are a series of geopolitical meetings occurring, one building off the other, in New York City this week. Indeed the world is her stage this week, and she is swollen with well-dressed, pompous, hungry fools.

The start of the week offers just one economic report, and a soft one at that. The Housing Market Index measures homebuilder sentiment and has been so reliable in its meager measurement that it is not likely on Wall Street's short list for Monday morning. Rather, there will be talk of the Jets victory over the Patriots, the Yankees tight pennant fight with Tampa Bay, and the sharing of Manning brother memories.

HMI

Reported by the National Association of Home Builders (NAHB), the Housing Market Index (HMI) is not a data point economists generally forecast, and so we have no consensus forecast to prepare you with. The report considers homebuilder feelings on the current situation and future prospects for the next six months. Last month's data showed builder confidence declined for the third consecutive month in August, with the HMI falling a point to a level of 13. It was the lowest level reported by the NAHB since March of 2009, not coincidentally the low point for the stock market.

The World is a Stage

It seems New York will be full of foreign dignitaries this week, and not just for the general assembly of the United Nations.

Climate Change Talk

Sixteen of the world's largest economies and the 27 nation European Union will gather in New York on Monday and Tuesday, in an effort to augment the thus far ineffectual United Nations' effort. The economies represented will include specifically: Australia, Brazil, Britain, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Korea, Mexico, Russia, South Africa, the United States, and the EU.

Clinton's Confab

Former President Clinton brings folks together this week in New York as well for his Global Initiative Conference. Meanwhile, the world's dignitaries are arriving through Monday for Tuesday's UN gathering. You might like some of our work on meetings of the recent past:

OECD Survey

The Organization for Economic Co-operation and Development (OECD) will issue its US economic survey Monday.

Japanese markets are closed Monday.

Corporate Wire

The corporate news wire will highlight Oracle’s (Nasdaq: ORCL) trade show in San Francisco. Canadian regulators will rule on BHP Billiton’s (NYSE: BHP) takeover bid for Potash (NYSE: POT). The UBS (NYSE: UBS) Global Life Sciences Conference kicks off with presentations by Agilent Technologies (NYSE: A), Celgene (Nasdaq: CELG), Given Imaging (Nasdaq: GIVN), and Idera Pharmaceuticals (Nasdaq: IDRA). Duke Energy (NYSE: DUK) will host its Edwardsport Agreement Conference Call. The earnings schedule highlights news from Discover Financial (NYSE: DFS), Lennar Corp. (NYSE: LEN) and a handful of foreign firms.

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.