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Seeking Alpha

Monday, January 27, 2014

Week Ahead for Stocks

Unfortunately, after a distressing week for the market, with the SPDR S&P 500 (NYSE: SPY) down 2.6% on the week and 2.1% on Friday alone, the week ahead may only offer more of the same.

stock charts


It was an ugly week for stocks, with the Dow Jones Industrials taking the worst of it. Capital flowed out of stocks and into safe havens like gold and relative securities like the SPDR Gold Shares (NYSE: GLD).

Security
Last Week
Year-to-Date
Last 12 Months
SPDR S&P 500 (NYSE: SPY)
-2.6%
-3.1%
+19.7%
SPDR Dow Jones (NYSE: DIA)
-3.4%
-4.2%
+14.8%
PowerShares QQQ (Nasdaq: QQQ)
-1.3%
-1.4%
+30.1%
SPDR Gold Shares (NYSE: GLD)
+1.1%
+5.3%
-24.2%
iPath S&P Crude Oil (NYSE: OIL)
+2.9%
-2.2%
-0.7%

The Week Ahead


The market’s focus will be the Federal Open Market Committee’s (FOMC) latest monetary policy decision on this coming Wednesday. It seems a far stretch to expect the Fed to back off the tapering it has only just initiated. If, however, it further tapers its asset purchasing activity, affectionately known as quantitative easing, amid fading economic confidence, stocks will slide deeper. And if the Fed holds to its recent pace, but offers further inflation discussion nonetheless, that would hurt as well. Luckily for us, Ben Bernanke is still running the show, so we can at least hope for tempered discussion within the release.

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


464K
450K
3.1
5.0
TUESDAY


FOMC Meeting Begins


+3.5%
+1.6%
-Ex-Transportation
+1.2%
+0.7%
S&P Case Shiller HPI 20-City (Oct.)
+1.0%
+0.8%
78.1
79.0
95.9

13
10
-1.9%

-Year-to-Year Pace
+0.9%

+3.1%

WEDNESDAY




+4.7%



-Crude Oil Inventory
+1.0 M B

-Gasoline Inventory
+2.1 M B

THURSDAY


GDP Q4 2013 (Advance)
4.1%
3.0%
+0.2%
-0.5%
326K
327K
-31

-107 Bcf

FRIDAY


+0.2%
+0.2%
-Personal Spending
+0.5%
+0.2%
-Core PCI
+0.1%
+0.1%
+0.4%
+0.4%
59.1
59.5
80.4
81.0



There will be a slew of other important economic data availing itself this week. Several important measures covering every facet of the economy are scheduled for report this week, save the monthly Employment Situation Report which comes due the following week. So, economic data will either continue to undermine investor confidence or serve to stabilize it. This matters immensely to stocks in need of some reassurance.

Corporate earnings plays strongly as well this week, with big names like Apple (Nasdaq: AAPL) and others reporting, but no matter the company specific news, I see broader stock market decline continuing.

HIGHLIGHTED EPS REPORTS
Company
Ticker
MONDAY

Apple
Nasdaq: AAPL
Alkermes
Nasdaq: ALKS
American Electric Power
NYSE: AEP
Black Hills
NYSE: BKH
Caterpillar
NYSE: CAT
Haemonetics
NYSE: HAE
Headwaters
NYSE: HW
Kulicke and Soffa
Nasdaq: KLIC
Nathan’s Famous
Nasdaq: NATH
NVR
NYSE: NVR
Oppenheimer
NYSE: OPY
Radware
Nasdaq: RDWR
Rayonier
NYSE: RYN
Regis
NYSE: RGS
Rent-A-Center
Nasdaq: RCII
Roper
NYSE: ROP
Seagate
NYSE: STX
Sonic Foundry
Nasdaq: SOFO
Ultratech
Nasdaq: UTEK
United States Steel
NYSE: X
Wynn Resorts
Nasdaq: WYNN
Zions Bancorporation
Nasdaq: ZION
TUESDAY

A.O. Smith
NYSE: AOS
Amgen
Nasdaq: AMGN
AT&T
NYSE: T
Boston Properties
NYSE: BXP
Calamos Asset Management
Nasdaq: CLMS
Check Point Software
Nasdaq: CHKP
Cirrus Logic
Nasdaq: CRUS
CIT Group
NYSE: CIT
Comcast
Nasdaq: CMCSA
Corning
NYSE: GLW
D.R. Horton
NYSE: DHI
DuPont
NYSE: DD
Electronic Arts
NYSE: EA
Ford
NYSE: F
Iberiabank
Nasdaq: IBKC
Illinois Tool Works
NYSE: ITW
International Speedway
Nasdaq: ISCA
Nucor
NYSE: NUE
Owens-Illinois
NYSE: OI
Pentair
NYSE: PNR
Pfizer
NYSE: PFE
Plantronics
NYSE: PLT
Potlatch
NYSE: PCH
RF Micro Devices
Nasdaq: RFMD
T. Rowe Price
Nasdaq: TROW
VMware
NYSE: VMW
Waters
NYSE: WAT
World Acceptance
Nasdaq: WRLD
Yahoo
Nasdaq: YHOO
WEDNESDAY

1-800-Flowers.com
Nasdaq: FLWS
Amdocs
NYSE: DOX
Biogen Idec
Nasdaq: BIIB
Boeing
NYSE: BA
Callaway Golf
NYSE: ELY
Capstead Mortgage
NYSE: CMO
Citrix Systems
Nasdaq: CTXS
Dow Chemical
NYSE: DOW
EMC
NYSE: EMC
Facebook
NYSE: FB
Hess
NYSE: HES
JetBlue Airways
Nasdaq: JBLU
Mastech
NYSE: MHH
Navios Maritime
NYSE: NMM
Piper Jaffray
NYSE: PJC
Praxair
NYSE: PX
Qualcomm
Nasdaq: QCOM
Southern
NYSE: SO
Symantec
Nasdaq: SYMC
Tetra Tech
Nasdaq: TTEK
Tractor Supply
Nasdaq: TSCO
Tupperware
NYSE: TUP
Valero
NYSE: VLO
Vistaprint
Nasdaq: VPRT
WellPoint
NYSE: WLP
THURSDAY

3M
NYSE: MMM
Alliant Techsystems
NYSE: ATK
Altria Group
NYSE: MO
Amazon.com
Nasdaq: AMZN
AutoNation
NYSE: AN
Beazer Homes
NYSE: BZH
Blackstone
NYSE: BX
BOK Financial
Nasdaq: BOKF
Broadcom
Nasdaq: BRCM
Camden Property Trust
NYSE: CPT
CARBO Ceramics
NYSE: CRR
Cardinal Health
NYSE: CAH
Celgene
Nasdaq: CELG
Chipotle Mexican Grill
NYSE: CMG
Chubb
NYSE: CB
Colgate-Palmolive
NYSE: CL
ConocoPhillips
NYSE: COP
Eli Lilly
NYSE: LLY
Exxon Mobil
NYSE: XOM
Google
Nasdaq: GOOG
Harley-Davidson
NYSE: HOG
Invesco
NYSE: IVZ
JDS Uniphase
Nasdaq: JDSU
Kennametal
NYSE: KMT
L-3 Communications
NYSE: LLL
MakeMyTrip
Nasdaq: MMYT
MICROS Systems
Nasdaq: MCRS
NewMarket
NYSE: NEU
Newmont Mining
NYSE: NEM
Northrop Grumman
NYSE: NOC
Occidental Petroleum
NYSE: OXY
Overstock.com
Nasdaq: OSTK
Peabody Energy
NYSE: BTU
Prologis
NYSE: PLD
Raytheon
NYSE: RTN
The Pantry
Nasdaq: PTRY
Thermo Fisher Scientific
NYSE: TMO
Time Warner Cable
NYSE: TWC
Under Armour
NYSE: UA
United Parcel Service
NYSE: UPS
Viacom
Nasdaq: VIAB
Visa
NYSE: V
Whirlpool
NYSE: WHR
Xcel Energy
NYSE: XEL
Zimmer Holdings
NYSE: ZMH
FRIDAY

AbbVie
Nasdaq: ABBV
Aon
NYSE: AON
Autoliv
NYSE: ALV
Avery Dennison
NYSE: AVY
Baidu
Nasdaq: BIDU
Booz Allen Hamilton
NYSE: BAH
Chevron
NYSE: CVX
CONSOL Energy
NYSE: CNX
Dominion Resources
NYSE: D
ImmunoGen
Nasdaq: IMGN
KKR Financial
NYSE: KFN
Lancaster Colony
Nasdaq: LANC
Lantronix
Nasdaq: LTRX
Lear
NYSE: LEA
Legg Mason
NYSE: LM
LyondellBasell
NYSE: LYB
MasterCard
NYSE: MA
Mattel
NYSE: MAT
Mead Johnson
NYSE: MJN
Micrel
Nasdaq: MCRL
Modine Manufacturing
NYSE: MOD
National Oilwell Varco
NYSE: NOV
Newell Rubbermaid
NYSE: NWL
PACCAR
Nasdaq: PCAR
Pixelworks
Nasdaq: PXLW
Provident Financial Services
NYSE: PFS
Saia
Nasdaq: SAIA
Simon Property
NYSE: SPG
Tyco International
NYSE: TYC
Tyson Foods
NYSE: TSN
Weyerhaeuser
NYSE: WY
WisdomTree Investments
Nasdaq: WETF

Other reports you may enjoy:

Apple EPS Setup Against the Whisper
Stock Market Shock Dictates Continued Avoidance of Passive Long Positions
Alcatel-Lucent EPS – What’s the Whisper Anyway?
Why I See GE’s Soft Floor at $24 and Bedrock at $20

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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