This Week: Peace Disrupted
This weekly period into Labor Day weekend is historically one of the slowest trading periods for stocks, but that is dependent on the NASDAQ (Nasdaq: NDAQ) staying open and Syria not showering chemical weapons on its citizens. As a result, stocks have been shaken up. Economically speaking, there certainly are some tasty tidbits of economic data to review this week, including GDP, durable goods orders, consumer spending and confidence, and home price and sales data. However, the earnings schedule is dwindling away. In fact, I would go so far as to say that any company reporting towards the close of this week should probably be sold just because of the sketchy aspect of doing such a thing when everyone is on vacation.
Just when it looked like stocks would stabilize (since they did last week), the awkward looking dimwit who runs Syria had to go and use chemical weapons against other Syrians. It’s a situation even the mild geopolitically mannered President Obama cannot ignore. So as the media talks about Syria, Iran, Russia and all the worst case scenarios that could unfold if and when the U.S. and/or some other interested parties finally let loose on Syria, stocks are pressured. However, stay tuned to our blog and other columns, as I have an interesting idea about this I’ll publish on shortly.
Economic Events
The economic schedule has been overshadowed this week by the events around Syria, but there are tidbits of data to chew on. The GDP revision for one should weigh on the market when reported and if changed. So far this week the data has been mixed but mostly disappointing, with decreases in activity in housing especially. We’ve discussed the issues around the housing recovery slowdown in past work; it is mostly on seasonal lull and rising mortgage rate shock. The manufacturing news has been mixed thus far this week, with durable goods orders dropping but regional Fed bank measures doing relatively well. While consumer confidence improved in the latest check, consumer spending seems to be slowing. Later this week, we’ll get a look at consumer spending, which should offer an answer on the issue, but I think the slowing is on a lull before the back-to-school spending storm.
Corporate Events
If you own a stock that is reporting results towards the close of this week, you had better worry. Also, watch out for press releases issued this Friday afternoon as a real warning sign. You don’t need to own stocks that have to resort to attempts at hiding bad news from you.
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.
Index ETF
|
Week Ending August 23
|
Year-to-Date
|
SPDR S&P 500 (NYSE: SPY)
|
+0.5%
|
+16.3%
|
SPDR Dow Jones (NYSE: DIA)
|
-0.4%
|
+15.2%
|
PowerShares QQQ (Nasdaq: QQQ)
|
+1.6%
|
+15.9%
|
Just when it looked like stocks would stabilize (since they did last week), the awkward looking dimwit who runs Syria had to go and use chemical weapons against other Syrians. It’s a situation even the mild geopolitically mannered President Obama cannot ignore. So as the media talks about Syria, Iran, Russia and all the worst case scenarios that could unfold if and when the U.S. and/or some other interested parties finally let loose on Syria, stocks are pressured. However, stay tuned to our blog and other columns, as I have an interesting idea about this I’ll publish on shortly.
Economic Events
THIS WEEK’S ECONOMIC REPORT
SCHEDULE
|
|||
Economic Data Point
|
Prior
|
Expected
|
Actual
|
MONDAY
|
|||
+3.9%
|
-4.0%
|
-7.3%
|
|
4.4
|
4.5
|
5.0
|
|
TUESDAY
|
|||
+1.0%
|
+1.0%
|
+0.9%
|
|
-1.9%
|
+0.2%
|
||
-Year-to-Year Pace
|
+2.2%
|
+1.9%
|
|
81.0 (R)
|
78.0
|
81.5
|
|
-11
|
0
|
14
|
|
107.7
|
105.1
|
||
WEDNESDAY
|
|||
-0.4%
|
-1.0%
|
-1.3%
|
|
-4.6%
|
-2.5%
|
||
-Crude Oil Inventory
|
-1.4 M
|
||
-Gasoline Inventory
|
-4.0 M
|
||
THURSDAY
|
|||
GDP Report Q2
|
+0.7%
|
+0.7%
|
|
-28.8
|
|||
336K
|
330K
|
||
57 Bcf
|
|||
FRIDAY
|
|||
-Income
|
+0.3%
|
+0.2%
|
|
-Spending
|
+0.5%
|
+0.3%
|
|
-Core PCE Price Index
|
+0.2%
|
+0.2%
|
|
52.3
|
53.0
|
||
80.0
|
80.0
|
||
The economic schedule has been overshadowed this week by the events around Syria, but there are tidbits of data to chew on. The GDP revision for one should weigh on the market when reported and if changed. So far this week the data has been mixed but mostly disappointing, with decreases in activity in housing especially. We’ve discussed the issues around the housing recovery slowdown in past work; it is mostly on seasonal lull and rising mortgage rate shock. The manufacturing news has been mixed thus far this week, with durable goods orders dropping but regional Fed bank measures doing relatively well. While consumer confidence improved in the latest check, consumer spending seems to be slowing. Later this week, we’ll get a look at consumer spending, which should offer an answer on the issue, but I think the slowing is on a lull before the back-to-school spending storm.
Corporate Events
If you own a stock that is reporting results towards the close of this week, you had better worry. Also, watch out for press releases issued this Friday afternoon as a real warning sign. You don’t need to own stocks that have to resort to attempts at hiding bad news from you.
HIGHLIGHTED EPS REPORTS
|
|
Company
|
Ticker
|
MONDAY
|
|
Allied Healthcare Products
|
Nasdaq: AHPI
|
Amira Nature Foods
|
Nasdaq: ANFI
|
Atlanticus Holdings
|
Nasdaq: ATLC
|
Calypte Biomedical
|
Nasdaq: CBMC
|
Cambridge Heart
|
Nasdaq: CAMH
|
China Cord Blood
|
NYSE: CO
|
CSS Industries
|
NYSE: CSS
|
Daxor
|
NYSE: DXR
|
Dehaier Medical
|
Nasdaq: DHRM
|
Digital Cinema Destinations
|
Nasdaq: DCIN
|
Hancock Fabrics
|
Nasdaq: HKFI
|
HemaCare
|
Nasdaq: HEMA
|
Isle of Capri Casinos
|
Nasdaq: ISLE
|
KNOT Offshore Partners
|
Nasdaq: KNOP
|
Orthofix International
|
Nasdaq: OFIX
|
Phoenix Companies
|
NYSE: PNX
|
Qihoo 360
|
Nasdaq: QIHU
|
Qualstar
|
Nasdaq: QBAK
|
RTI International Metals
|
NYSE: RTI
|
Rue21
|
NYSE: RUE
|
SED International
|
NYSE: SED
|
Sedona
|
Nasdaq: SDNA
|
SpectraScience
|
Nasdaq: SCIE
|
Tower Group
|
Nasdaq: TWGP
|
WSP Holdings
|
NYSE: WH
|
Yosen Group
|
Nasdaq: YOSN
|
TUESDAY
|
|
Standex International
|
NYSE: SXI
|
dELiA’s
|
Nasdaq: DLIA
|
Movado
|
NYSE: MOV
|
Donaldson
|
NYSE: DCI
|
Sanderson Farms
|
Nasdaq: SAFM
|
Regis
|
NYSE: RGS
|
Brown Shoe
|
NYSE: BWS
|
Tiffany
|
NYSE: TIF
|
DSW
|
NYSE: DSW
|
Dycom
|
NYSE: DY
|
AeroVironment
|
Nasdaq: AVAV
|
Heico
|
NYSE: HEI
|
TiVo
|
Nasdaq: TIVO
|
WMS Industries
|
NYSE: WMS
|
Books-A-Million
|
Nasdaq: BAMM
|
Concurrent Computer
|
Nasdaq: CCUR
|
Daegis
|
Nasdaq: DAEG
|
Accuray
|
Nasdaq: ARAY
|
QAD Inc.
|
Nasdaq: QADB
|
Workday
|
Nasdaq: WDAY
|
Adept Technology
|
Nasdaq: ADEP
|
Wet Seal
|
Nasdaq: WTSLA
|
WEDNESDAY
|
|
APR Energy
|
Nasdaq: APREN
|
LTX-Credence
|
Nasdaq: LTXC
|
Chico’s FAS
|
NYSE: CHS
|
Express
|
Nasdaq: EXPR
|
Brown-Forman
|
NYSE: BFB
|
Zale
|
NYSE: ZLC
|
Joy Global
|
NYSE: JOY
|
Gordman’s Stores
|
Nasdaq: GMAN
|
eGain
|
Nasdaq: EGAN
|
Fresh Market
|
NYSE: TFM
|
SWS Group
|
NYSE: SWS
|
Delta Apparel
|
NYSE: DLA
|
Casella Waste Systems
|
Nasdaq: CWST
|
Culp
|
NYSE: CFI
|
Aceto
|
Nasdaq: ACET
|
Perceptron
|
Nasdaq: PRCP
|
Williams-Sonoma
|
NYSE: WSM
|
Guess
|
NYSE: GES
|
Tilly’s
|
Nasdaq: TLYS
|
Collector’s Universe
|
Nasdaq: CLCT
|
THURSDAY
|
|
Pall Corp.
|
NYSE: PLL
|
Campbell Soup
|
NYSE: CPB
|
Methode Electronics
|
NYSE: MEI
|
1-800-Flowers.com
|
Nasdaq: FLWS
|
K12
|
NYSE: LRN
|
Shiloh Industries
|
Nasdaq: SHLO
|
Corinthian Colleges
|
Nasdaq: COCO
|
Genesco
|
NYSE: GCO
|
Bio-Reference Laboratories
|
Nasdaq: BRLI
|
Fred’s
|
Nasdaq: FRED
|
U.S. Global Investors
|
Nasdaq: GROW
|
American Software
|
Nasdaq: AMSWA
|
Bebe Stores
|
Nasdaq: BEBE
|
Shoe Carnival
|
Nasdaq: SCVL
|
Krispy Kreme Doughnuts
|
NYSE: KKD
|
Salesforce.com
|
NYSE: CRM
|
Esterline Technologies
|
NYSE: ESL
|
Control4
|
Nasdaq: CTRL
|
Pacific Sunwear
|
Nasdaq: PSUN
|
Splunk
|
Nasdaq: SPLK
|
OmniVision Technologies
|
Nasdaq: OVTI
|
Astro-Med
|
Nasdaq: ALOT
|
Lantronix
|
Nasdaq: LTRX
|
MGC Diagnostics
|
Nasdaq: MGCD
|
FRIDAY
|
|
Big Lots
|
NYSE: BIG
|
Sears Hometown & Outlet
|
Nasdaq: SHOS
|
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.
Labels: Market-Outlook, Market-Outlook-2013-Q3, Week-Ahead, Week-Ahead-2013
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