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Seeking Alpha

Tuesday, January 21, 2014

THIS WEEK: Stocks Getting Cold Feet

NYC snow
The shortened week is light on economic data but earnings season is picking up. However, the weather might play a greater role than anything else this week, as investors begin to look toward the meaningful impact of what sure looks like a cold, wet winter.

This Week


Index ETF
YTD
Trailing 12-M
SPDR S&P 500 (NYSE: SPY)
-0.6%
+23.8%
SPDR Dow Jones (NYSE: DIA)
-0.8%
+20.6%
PowerShares QQQ (Nasdaq: QQQ)
-0.1%
+31.0%

Stocks have had a slow start to 2014, as we predicted they would in our New Year’s Eve article, Sell Stocks on Likely January Ill-Effects. Earlier this morning, we indicated our expectations that the week would likely bring more drift for stocks.

Economic Events

THIS WEEK’S ECONOMIC REPORT SCHEDULE
Economic Data Point
Prior
Expected
MONDAY


MLK Day


+7.7%
+7.6%
ILO Global Employment Trends


World Future Energy Summit


TUESDAY


-1.0%

-Year-to-Year Pace
+1.3%

+2.9%



US CFTC on Swap Oversight


WEDNESDAY






+11.9%



Bank of Canada Monetary Policy


THURSDAY


54.4
55.0
4.9 M
4.9 M
+0.8%
+0.1%
326K
330K
+0.5%
+0.4%
-31

-287 Bcf

-7.7 M B

-Crude Oil Inventory
+6.2 M B

-Gasoline Inventory


FRIDAY





The week is light on economic data, with an abnormal focus on Thursday. Because of the holiday this Monday, some reports are being pushed to that day. Existing Home Sales and Leading Economic Indicators are likely to weigh heaviest, in my view. Not much is expected from either report this week, with slight growth forecast for the LEI and stagnation seen for home sales. Anything worse than this means probably a point or two lower for stocks this week.

Investors will also want to pay attention to the draw from natural gas inventories, though next week’s figures should show the bigger draw. The especially cold and broad reaching winter is threatening to deplete natural gas reserves, and that could mean significantly higher electric bills for already strapped consumers and tightly operating businesses. It’s an economic drag folks, and something that will garner increasing attention should the weather hold.

Corporate Events

Earnings season is upon us, with major reports scheduled this week. I suggest investors focus on the reports of IBM (NYSE: IBM) and Microsoft (Nasdaq: MSFT) for a read on the economy. Each of these is tied to business spending, but each also has company specific issues to manage today. Microsoft is also going to offer some insight into the questionable consumer, as will Starbucks (Nasdaq: SBUX) and McDonald’s (NYSE: MCD) this week. S&P 500 top performer Netflix (Nasdaq: NFLX) reports this week as well, and boy does it have a lot of paper profits built in from 2013 at stake.

HIGHLIGHTED EPS REPORTS
Company
Ticker
MONDAY

MLK Day

TUESDAY

Advanced Micro Devices
NYSE: AMD
Baker Hughes
NYSE: BHI
Cree
Nasdaq: CREE
Delta Air Lines
NYSE: DAL
Forest Laboratories
NYSE: FRX
Fulton Financial
Nasdaq: FULT
Halliburton
NYSE: HAL
Johnson & Johnson
NYSE: JNJ
LSI Corp.
NYSE: LSI
Petmed Express
Nasdaq: PETS
Regions Financial
NYSE: RF
Rockwell Collins
NYSE: COL
SAP
NYSE: SAP
Synovus Financial
NYSE: SNV
TD Ameritrade
Nasdaq: AMTD
Texas Instruments
NYSE: TXN
Travelers
NYSE: TRV
Unifi
NYSE: UFI
Unilever
NYSE: UL
Verizon
NYSE: VZ
Xilinx
Nasdaq: XLNX
WEDNESDAY

Abbott Laboratories
NYSE: ABT
Allegheny Technologies
NYSE: ATI
BancorpSouth
NYSE: BXS
Brinker International
NYSE: EAT
Coach
NYSE: COH
East West Bancorp
Nasdaq: EWBC
eBay
Nasdaq: EBAY
Ethan Allen Interiors
NYSE: ETH
F5 Networks
Nasdaq: FFIV
Fair Isaac
Nasdaq: FICO
Freeport-McMoRan
NYSE: FCX
General Dynamics
NYSE: GD
Jacobs Engineering
NYSE: JEC
Motorola Solutions
NYSE: MSI
Netflix
Nasdaq: NFLX
Noble Corporation
NYSE: NE
Norfolk Southern
NYSE: NSC
Northern Trust
Nasdaq: NTRS
SanDisk
Nasdaq: SNDK
Susquehanna Bancshares
Nasdaq: SUSQ
Teradyne
NYSE: TER
U.S. Bancorp
NYSE: USB
United Rentals
NYSE: URI
United Technologies
NYSE: UTX
Varian Medical
NYSE: VAR
Western Digital
NYSE: WDC
THURSDAY

AmerisourceBergen
NYSE: ABC
Baxter International
NYSE: BAX
Briggs & Stratton
NYSE: BGG
Cash America
NYSE: CSH
Celanese
NYSE: CE
Cypress Semiconductor
NYSE: CY
Discover Financial
NYSE: DFS
E*TRADE
Nasdaq: ETFC
Fairchild Semiconductor
NYSE: FCS
Fifth Third Bancorp
Nasdaq: FITB
Intuitive Surgical
Nasdaq: ISRG
J.B. Hunt
Nasdaq: JBHT
Janus Capital
NYSE: JNS
Johnson Controls
NYSE: JCI
Juniper Networks
Nasdaq: JNPR
KeyCorp
NYSE: KEY
KLA-Tencor
Nasdaq: KLAC
Lockheed Martin
NYSE: LMT
Matthews International
Nasdaq: MATW
McDonald’s
NYSE: MCD
MGIC Investment
NYSE: MTG
Microsoft
Nasdaq: MSFT
Popular
Nasdaq: BPOP
Precision Castparts
NYSE: PCP
Quality Systems
Nasdaq: QSII
ShoreTel
Nasdaq: SHOR
Southwest Airlines
NYSE: LUV
Starbucks
Nasdaq: SBUX
Strattec Security
Nasdaq: STRT
SVB Financial
Nasdaq: SIVB
Synaptics
Nasdaq: SYNA
Teledyne
NYSE: TDY
TESSCO
Nasdaq: TESS
Travelzoo
Nasdaq: TZOO
Union Pacific
NYSE: UNP
United Continental
NYSE: UAL
Uroplasty
NYSE: UPI
Western Alliance Bancorporation
NYSE: WAL
FRIDAY

Amcol International
NYSE: ACO
BancFirst
Nasdaq: BANF
Bristol-Myers Squibb
NYSE: BMY
Covidien
NYSE: COV
Enterprise Financial Services
Nasdaq: EFSC
First Niagara Financial
Nasdaq: FNFG
Honeywell
NYSE: HON
Kansas City Southern
NYSE: KSU
Kimberly-Clark
NYSE: KMB
Procter & Gamble
NYSE: PG
ResMed
NYSE: RMD
Stanley Black & Decker
NYSE: SWK
State Street
NYSE: STT
W.W. Grainger
NYSE: GWW
Xerox
NYSE: XRX

Recent reports you might find interesting:

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Bank of America (NYSE: BAC) Must Exorcise Its Demons

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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.

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