This Week: Selling Syria
Congress is back in session this week, and just in time to take on the President’s proposal to use measured force against the Assad regime in Syria. The Senate is scheduled to vote on the issue Wednesday, but the President will be selling his plan to the American people Monday night in recorded interviews with each of the major networks’ news anchors. Then on Tuesday, he will address the nation directly on the issue. It appears this is a necessary step, if Congress is to vote in favor of force, a very unpopular action with a great many Americans. Otherwise this week, Apple (Nasdaq: AAPL) unveils its iPhone5S on Tuesday, giving the company an opportunity to reignite energy among Apple users and shareholders. On Thursday, Dell (Nasdaq: DELL) shareholders vote on Michael Dell’s plan to take the company private, just as shareholder activist Carl Icahn steps aside. The SEC will be taking up the issue of the recent Nasdaq blackout with the heads of the major exchanges. Finally, this week obviously includes September 11 and the annual somber memorial services and the security tension that comes with it.
Stocks had a good week last week, even after all the discussion about Syria and another mixed review of the Employment Report. This week, a still hopeful market will place its bet on every rumor regarding the possibility of inaction against Syria, and then face reality as we near the close of the period, in this columnist’s opinion. That is because the idea of placing Syria’s chemical weapons in Russian hands, were it to acknowledge having them in the first place, reminds me of the failed and flawed Russian effort to have Iran’s nuclear program placed under its control. The plan is too full of holes, and frankly, it surprises me that the media is even entertaining the possibility of this occurring. The more I watch pundits and media discuss topics, the more I am reminded of a chicken I once watched run around without its head after being slaughtered. But the fools and the foolish open up opportunities for the discerning, and so we welcome their ignorance.
Economic Events
The economic schedule is backend heavy on the week, with monthly retail sales ominously waiting for the close of the period. Though, economists are looking for a decent uptick in sales less auto and gasoline. Recent indications have offered evidence of something else, so a negative surprise could be in the works.
The period includes several more employment data points, which despite last week’s heavy hitters on the subject, will carry weight. Weekly jobless claims continue to ease, and the week’s reports on general employment trends and job openings are expected to be favorable.
The mood of small businessmen has taken a while to turn, but it has been improving over time. It is expected to do so again this month, despite the onset of new healthcare costs for many small businesses.
Consumer sentiment gets a look-see this week, and there’s no arguing that consumers have taken a breather over the last month or two. Some pundits will point toward the many new electronic goods that are being introduced now as key catalysts to reignite consumer spending, and they might be right.
Corporate Events
We are looking toward Q3 now, but several companies still have to report for the last quarter. Among them are some important homebuilders, restaurants, food producers and retailers.
If you found this report valuable, please do follow this column to receive it regularly.
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 Sept. 6
|
Year-to-Date
|
SPDR S&P 500 (NYSE: SPY)
|
+1.5%
|
+16.8%
|
SPDR Dow Jones (NYSE: DIA)
|
+0.8%
|
+14.2%
|
PowerShares QQQ (Nasdaq: QQQ)
|
+1.9%
|
+18.5%
|
Stocks had a good week last week, even after all the discussion about Syria and another mixed review of the Employment Report. This week, a still hopeful market will place its bet on every rumor regarding the possibility of inaction against Syria, and then face reality as we near the close of the period, in this columnist’s opinion. That is because the idea of placing Syria’s chemical weapons in Russian hands, were it to acknowledge having them in the first place, reminds me of the failed and flawed Russian effort to have Iran’s nuclear program placed under its control. The plan is too full of holes, and frankly, it surprises me that the media is even entertaining the possibility of this occurring. The more I watch pundits and media discuss topics, the more I am reminded of a chicken I once watched run around without its head after being slaughtered. But the fools and the foolish open up opportunities for the discerning, and so we welcome their ignorance.
Economic Events
THIS WEEK’S ECONOMIC REPORT
SCHEDULE
|
||
Economic Data Point
|
Prior
|
Expected
|
MONDAY
|
|
|
|
|
|
112.8
|
113.54
|
|
$13.8 B
|
$12.3 B
|
|
TUESDAY
|
|
|
94.1
|
95.0
|
|
-0.6%
|
|
|
-Year-to-Year Pace
|
+1.8%
|
|
+4.7%
|
|
|
3.936 M
|
3.9275 M
|
|
4.87
|
|
|
WEDNESDAY
|
|
|
Wholesale Trade
(Inventory)
|
-0.2%
|
+0.3%
|
-Sales
|
+0.4%
|
|
+1.3%
|
|
|
|
|
|
-Crude Oil Inventory
|
-1.8 M
|
|
-Gasoline Inventory
|
-1.8 M
|
|
THURSDAY
|
|
|
Import & Export Prices
(Imports)
|
-0.1%
|
+0.1%
|
-Exports
|
+0.2%
|
+0.5%
|
-32.3
|
|
|
323 K
|
330 K
|
|
+58 Bcf
|
|
|
-$97.6 B
|
|
|
FRIDAY
|
|
|
+0.2%
|
+0.5%
|
|
-Less Autos & Gas
|
+0.4%
|
+0.3%
|
+0.0%
|
+0.2%
|
|
-Core PPI
|
+0.1%
|
+0.1%
|
82.1
|
82.0
|
|
+0.0%
|
+0.3%
|
|
-Sales
|
+0.2%
|
|
The economic schedule is backend heavy on the week, with monthly retail sales ominously waiting for the close of the period. Though, economists are looking for a decent uptick in sales less auto and gasoline. Recent indications have offered evidence of something else, so a negative surprise could be in the works.
The period includes several more employment data points, which despite last week’s heavy hitters on the subject, will carry weight. Weekly jobless claims continue to ease, and the week’s reports on general employment trends and job openings are expected to be favorable.
The mood of small businessmen has taken a while to turn, but it has been improving over time. It is expected to do so again this month, despite the onset of new healthcare costs for many small businesses.
Consumer sentiment gets a look-see this week, and there’s no arguing that consumers have taken a breather over the last month or two. Some pundits will point toward the many new electronic goods that are being introduced now as key catalysts to reignite consumer spending, and they might be right.
Corporate Events
We are looking toward Q3 now, but several companies still have to report for the last quarter. Among them are some important homebuilders, restaurants, food producers and retailers.
HIGHLIGHTED EPS REPORTS
|
|
Company
|
Ticker
|
MONDAY
|
|
Hovnanian
|
NYSE: HOV
|
Hi-Tech Pharmacal
|
Nasdaq: HITK
|
John Wiley & Sons
|
NYSE: JWA
|
General Finance
|
Nasdaq: GFN
|
Streamline Health Solutions
|
Nasdaq: STRM
|
L&L Energy
|
Nasdaq: LLEN
|
PVH Corp.
|
NYSE: PVH
|
Palo Alto Networks
|
Nasdaq: PANW
|
Pep Boys
|
NYSE: PBY
|
Majesco Entertainment
|
Nasdaq: COOL
|
Investors Real Estate Trust
|
Nasdaq: IRET
|
Five Below
|
Nasdaq: FIVE
|
Peregrine Pharmaceuticals
|
Nasdaq: PPHM
|
Flow International
|
Nasdaq: FLOW
|
HD Supply Holdings
|
Nasdaq: HDS
|
TUESDAY
|
|
McDonald’s
|
NYSE: MCD
|
Christopher & Banks
|
NYSE: CBK
|
AEP Industries
|
Nasdaq: AEPI
|
Triangle Petroleum
|
Nasdaq: TPLM
|
Lannett Company
|
NYSE: LCI
|
Oxford Industries
|
NYSE: OXM
|
Unilife
|
Nasdaq: UNIS
|
Coldwater Creek
|
Nasdaq: CWTR
|
Restoration Hardware
|
NYSE: RH
|
Miller Energy Resources
|
NYSE: MILL
|
WEDNESDAY
|
|
Men’s Wearhouse
|
NYSE: MW
|
Evolution Petroleum
|
NYSE: EPM
|
Vera Bradley
|
Nasdaq: VRA
|
THURSDAY
|
|
RF Industries
|
Nasdaq: RFIL
|
Brady
|
NYSE: BRC
|
Progressive
|
NYSE: PGR
|
NetSol Technologies
|
Nasdaq: NTWK
|
Kroger
|
NYSE: KR
|
TRC Companies
|
NYSE: TRR
|
Point360
|
Nasdaq: PTSX
|
Lakeland Industries
|
Nasdaq: LAKE
|
Marrone Bio Innovations
|
Nasdaq: MBII
|
Analogic
|
Nasdaq: ALOG
|
Cherokee
|
Nasdaq: CHKE
|
Ulta Salon
|
Nasdaq: ULTA
|
Crossroads Systems
|
Nasdaq: CRDS
|
United Natural Foods
|
Nasdaq: UNFI
|
LifeVantage
|
Nasdaq: LFVN
|
FRIDAY
|
|
Ocean Power Technologies
|
Nasdaq: OPTT
|
Comarco
|
Nasdaq: CMRO
|
If you found this report valuable, please do follow this column to receive it regularly.
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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