Wall Street Week Ahead June 2-6
Everybody ought to be back from holiday this week and we can get back to business. It’s a busy week on the economic front, with a jam packed schedule that includes the granddaddy of them all, the monthly Employment Situation Report. Apple (Nasdaq: AAPL) keys this week’s wire as well, with its big developers’ conference Monday. The geopolitical schedule is hot too, with a G-7 meeting and a series of important central bank decisions. Find your full schedule below.
Stocks have been on a bit of a run, especially last week after the Ukraine elections went off without a hitch and Russian troops began backing off the border with Ukraine. However, the economic data has remained disappointing. Hopes are pinned on improving data as we get out of that miserable winter weather that plagued Q1. Gold started slipping last week, but we’re looking for it to bounce back soon enough.
Economic Events
The week ahead is jam-packed full of significant economic data that should matter to investors. The obvious market-mover most are keying on this week is the monthly employment report for May, though the news is not expected to be as great as April’s. Nonfarm payrolls are expected to increase at a less robust pace, by just 213K, versus April’s 288K. Private nonfarm payrolls will likewise be lower for May, according to economists, at 215K. The unemployment rate is seen inching higher to 6.4%, after declining sharply in April (though the workforce count disappeared a bit). So, the bar is set lower for the critical economic data point. The rest of the monthly employment figures include a lower bar for ADP’s private employment data and a relatively easy comp on the Challenger Job-Cut point – last month’s figure was mildly concerning.
Where to begin… From there, the schedule is simply packed. We have monetary policy meetings from the ECB, BOE and Bank of Canada. A slew of Federal Reserve men are scheduled to speak along with the Treasury Secretary. The Beige Book of regional Fed bank indicators will be reported. There’s a G-7 meeting scheduled, sans Vladimir Putin, who’s been dropped from the bunch. Every important national manufacturing and non-manufacturing figure is due, including factory orders, productivity & costs and a slew of Gallup data points. Construction spending data is due and one consumer sentiment measure. It’s just busy, very busy.
Corporate Events
Apple (Nasdaq: AAPL) tops the corporate news list, as its Worldwide Developers’ Conference promises to offer all sorts of new and important news. However, in the past, Apple has fallen short of high expectations for it. The stock has run up into the meeting, so many expect another failure here. If we get one of significance, I suggest buying Apple shares up. The earnings list is somewhat comprehensive in this post-holiday period. See the full list below.
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.
Wall Street Week Ahead
Security
|
2014
|
Last 12 Mos.
|
SPDR S&P 500 (NYSE: SPY)
|
+4.3%
|
+17.9%
|
SPDR Dow Jones (NYSE: DIA)
|
+0.9%
|
+10.5%
|
PowerShares QQQ (Nasdaq: QQQ)
|
+3.8%
|
+24.7%
|
SPDR Gold Shares (NYSE: GLD)
|
+3.7%
|
-10.1%
|
iPath S&P Crude Oil (NYSE: OIL)
|
+6.9%
|
+16.2%
|
PIMCO Total Return (Nasdaq: BOND)
|
+3.9%
|
+0.6%
|
PowerShares DB US $ Bullish (NYSE: UUP)
|
-0.2%
|
-5.0%
|
Stocks have been on a bit of a run, especially last week after the Ukraine elections went off without a hitch and Russian troops began backing off the border with Ukraine. However, the economic data has remained disappointing. Hopes are pinned on improving data as we get out of that miserable winter weather that plagued Q1. Gold started slipping last week, but we’re looking for it to bounce back soon enough.
Economic Events
THIS WEEK’S ECONOMIC REPORT
SCHEDULE
|
||
Economic Data Point
|
Prior
|
Expected
|
MONDAY
|
|
|
|
|
|
54.9
|
55.5
|
|
55.4
|
56.2
|
|
0.2%
|
0.7%
|
|
$88
|
|
|
|
|
|
|
|
|
TUESDAY
|
|
|
16.0 M
|
12.8 M
|
|
-Domestic Sales Only
|
12.8 M
|
16.1 M
|
1.1%
|
0.5%
|
|
-1.2%
|
|
|
-Year-to-Year Pace
|
+2.1%
|
|
+3.2%
|
|
|
|
|
|
|
|
|
WEDNESDAY
|
|
|
220K
|
210K
|
|
-$40.4 B
|
-$41.0 B
|
|
55.2
|
55.3
|
|
55.0
|
|
|
-1.7%
|
-2.9%
|
|
-Unit Labor Costs
|
4.2%
|
5.2%
|
|
|
|
25.0
|
|
|
-1.2%
|
|
|
|
|
|
-Crude Oil Inventory
|
+1.7 MB
|
|
-Gasoline Inventory
|
-1.8 MB
|
|
G-7 Summit in Brussels
|
|
|
|
|
|
THURSDAY
|
|
|
|
|
|
|
|
|
Chain Store Sales
|
|
|
33.3
|
|
|
+114 bcf
|
|
|
40,298
|
|
|
310K
|
|
|
43.4
|
|
|
|
|
|
|
|
|
FRIDAY
|
|
|
|
|
|
-Nonfarm Payrolls
|
288K
|
213K
|
-Private Payrolls
|
273K
|
215K
|
-Unemployment Rate
|
6.3%
|
6.4%
|
$17.5 B
|
$15.0 B
|
The week ahead is jam-packed full of significant economic data that should matter to investors. The obvious market-mover most are keying on this week is the monthly employment report for May, though the news is not expected to be as great as April’s. Nonfarm payrolls are expected to increase at a less robust pace, by just 213K, versus April’s 288K. Private nonfarm payrolls will likewise be lower for May, according to economists, at 215K. The unemployment rate is seen inching higher to 6.4%, after declining sharply in April (though the workforce count disappeared a bit). So, the bar is set lower for the critical economic data point. The rest of the monthly employment figures include a lower bar for ADP’s private employment data and a relatively easy comp on the Challenger Job-Cut point – last month’s figure was mildly concerning.
Where to begin… From there, the schedule is simply packed. We have monetary policy meetings from the ECB, BOE and Bank of Canada. A slew of Federal Reserve men are scheduled to speak along with the Treasury Secretary. The Beige Book of regional Fed bank indicators will be reported. There’s a G-7 meeting scheduled, sans Vladimir Putin, who’s been dropped from the bunch. Every important national manufacturing and non-manufacturing figure is due, including factory orders, productivity & costs and a slew of Gallup data points. Construction spending data is due and one consumer sentiment measure. It’s just busy, very busy.
Corporate Events
Apple (Nasdaq: AAPL) tops the corporate news list, as its Worldwide Developers’ Conference promises to offer all sorts of new and important news. However, in the past, Apple has fallen short of high expectations for it. The stock has run up into the meeting, so many expect another failure here. If we get one of significance, I suggest buying Apple shares up. The earnings list is somewhat comprehensive in this post-holiday period. See the full list below.
HIGHLIGHTED EPS REPORTS
|
|
Company
|
Ticker
|
MONDAY
|
|
Apple WorldWide Developers
|
Nasdaq: AAPL
|
Urstadt Biddle Property A
|
NYSE: UBA
|
Calavo Growers
|
Nasdaq: CVGW
|
Jos A. Banks Clothiers
|
Nasdaq: JOSB
|
KBR
|
NYSE: KBR
|
Quiksilver
|
NYSE: ZQK
|
Accretive Health
|
Nasdaq: ACHI
|
Berkshire Bancorp
|
Nasdaq: BERK
|
Conn’s
|
Nasdaq: CONN
|
Ferrelgas Partners
|
NYSE: FGP
|
Guidewire Software
|
Nasdaq: GWRE
|
Hastings Entertainment
|
Nasdaq: HAST
|
Krispy Kreme Doughnuts
|
NYSE: KKD
|
Layne Christensen
|
Nasdaq: LAYN
|
Link Real Estate Investment Trust
|
Nasdaq: LKREF
|
Progressive
|
NYSE: PGR
|
TravelCenters of America
|
NYSE: TA
|
Village Super Market
|
Nasdaq: VLGEA
|
TUESDAY
|
|
ABM Industries
|
NYSE: ABM
|
Ambarella
|
Nasdaq: AMBA
|
American Woodmark
|
Nasdaq: AMWD
|
Ascena Retail
|
Nasdaq: ASNA
|
Dollar General
|
NYSE: DG
|
ePlus
|
Nasdaq: PLUS
|
FuelCell Energy
|
Nasdaq: FCEL
|
G-III Apparel Group
|
Nasdaq: GIII
|
Mattress Firm Holdings
|
Nasdaq: MFRM
|
Measurement Specialties
|
Nasdaq: MEAS
|
Mitcham Industries
|
Nasdaq: MIND
|
Rentrak
|
Nasdaq: RENT
|
WEDNESDAY
|
|
Bazaarvoice
|
NYSE: BV
|
Brown-Forman
|
NYSE: BF-A
|
Cyberonics
|
Nasdaq: CYBX
|
Doral Financial
|
NYSE: DRL
|
Five Below
|
Nasdaq: FIVE
|
Greif
|
NYSE: GEF
|
Hovnanian Enterprises
|
NYSE: HOV
|
IXYS Corp.
|
Nasdaq: IXYS
|
Leidos
|
Nasdaq: LDOS
|
PVH Corp.
|
NYSE: PVH
|
RealD
|
NYSE: RLD
|
Verint Systems
|
Nasdaq: VRNT
|
THURSDAY
|
|
American Superconductor
|
Nasdaq: AMSC
|
Analogic
|
Nasdaq: ALOG
|
Bio-Reference Laboratories
|
Nasdaq: BRLI
|
Breeze-Eastern
|
NYSE: BZC
|
Cantel Medical
|
NYSE: CMN
|
Ciena
|
Nasdaq: CIEN
|
Comtech Telecommunicaitons
|
Nasdaq: CMTL
|
Cooper Cos.
|
NYSE: COO
|
Diamond Foods
|
Nasdaq: DMND
|
Hooker Furniture
|
Nasdaq: HOFT
|
J.M. Smucker
|
NYSE: SJM
|
Joy Global
|
NYSE: JOY
|
Mad Catz Interactive
|
NYSE: MCZ
|
Navistar Int’l
|
NYSE: NAV
|
Quanex Building Products
|
NYSE: NX
|
Rally Software Development
|
Nasdaq: RALY
|
SeaChange Int’l
|
Nasdaq: SEAC
|
Selectica
|
Nasdaq: SLTC
|
Thor Industries
|
NYSE: THO
|
Titan Machinery
|
Nasdaq: TITN
|
UTi Worldwide
|
Nasdaq: UTIW
|
Vail Resorts
|
NYSE: MTN
|
Vera Bradley
|
NYSE: VRA
|
VeriFone Systems
|
NYSE: PAY
|
Vince Holdings
|
Nasdaq: VNCE
|
FRIDAY
|
|
KMG Chemicals
|
NYSE: KMG
|
Oil-Dri Corporation of America
|
NYSE: ODC
|
Piedmont Natural Gas
|
NYSE: PNY
|
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-2014-Q2, Week-Ahead, Week-Ahead-2014
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