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The Wall Street Greek blog is the sexy & syndicated financial securities markets publication of former Senior Equity Analyst Markos N. Kaminis. Our stock market blog reaches reputable publishers & private networks and is an unbiased, independent Wall Street research resource on the economy, stocks, gold & currency, energy & oil, real estate and more. Wall Street & Greece should be as honest, dependable and passionate as The Greek.


Seeking Alpha

Tuesday, May 27, 2014

Week Ahead: Lazy Days or Liar’s Poker?

This week usher’s in summer, informally, after Monday’s Memorial Day launch. Volume usually eases through summer, though it’s a bit early to look for that now. In August, when everyone on Wall Street migrates to Long Island and beyond, volume surely drops. Obviously, it is vacation season for the entire nation, so traders coast to coast are taking it easy. However, that does not mean the action stops. In recent years, major events have called investment managers’ attention and sometimes their bodies back into the office in August.

This May week also brings with it a new flavor of relations between Russia and Ukraine, and potentially even higher heat between Russia and the West. Ukraine’s military got on the move just hours after its national election determined its new Prime Minister would be Petro Poroshenko. However, they were called into action because separatists in Donetsk got rowdy and took over the local airport. How the Ukrainian situation develops may matter significantly this summer. Russia’s Putin is reportedly ready to strike back if the West issues Russia further sanctions, so market shock may strike.

stocks chart


Stocks got a little excited toward the close of the week last week, which was somewhat surprising given the Sunday/Monday Ukraine election schedule.

Security
2014
Last 12M
SPDR S&P 500 (NYSE: SPY)
+3.5%
+15.7%
SPDR Dow Jones (NYSE: DIA)
+0.5%
+8.9%
PowerShares QQQ (Nasdaq: QQQ)
+3.1%
+23.5%
SPDR Gold Shares (NYSE: GLD)
+5.0%
-8.8%
iPath S&P Crude Oil (NYSE: OIL)
+8.2%
+14.8%
PIMCO Total Return (Nasdaq: BOND)
+3.6%
-0.9%
PowerShares US $ Bull (NYSE: UUP)
-0.1%
-5.4%

The Week Ahead


The week ahead offers a good bit of important economic data packed into four trading days. We have GDP data, durable goods orders, home price data, measures of manufacturing and services, consumer confidence and spending. It’s a big week data-wise people, so don’t get too comfortable.

We’ll have our eye on consumer spending and pending home sales, as well as consumer confidence, to get a good bead on how the rest of the year will roll out. GDP is expected in the red, and could spoil the scene on Wall Street. Look for that news on Thursday.

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


Memorial Day Holiday


TUESDAY


+2.6%
-0.8%
-Ex-transportation
+2.0%
-0.1%
+0.6%
+0.5%
+0.8%
+0.7%
54.2
55.4
82.3
83.0
119.0

7
9
11.7
9.6


WEDNESDAY


+0.9%

-1.3%

-Year-to-Year Pace
+2.4%

+3.9%

THURSDAY


+0.1%
-0.5%
+3.4%
+1.0%
326K
317K


-Crude Oil Inventory
-7.2 MB

-Gasoline Inventory
+1.0 MB

+106 Bcf







34.1

FRIDAY


63.0
61.0
81.8
82.5
+0.5%
+0.4%
-Personal Outlays
+0.9%
+0.2%
-Core PCE
+0.2%
+0.2%









It’s a light period for earnings, but some big names will report. The list follows here.

 EPS REPORTS
Company
Ticker
TUESDAY

America’s Car-Mart
Nasdaq: CRMT
Autozone
NYSE: AZO
Berkshire Bancorp
Nasdaq: BERK
Environmental Tectonics
Nasdaq: ETCC
JinkoSolar
NYSE: JKS
KBR Inc.
NYSE: KBR
Qihoo 360 Technology
Nasdaq: QIHU
Saratoga Investment
NYSE: SAR
Ship Finance International
NYSE: SFL
Spectrum Group
Nasdaq: SPGZD
Speed Commerce
Nasdaq: SPDC
TravelCenters of America
NYSE: TA
Unigene Laboratories
Nasdaq: UGNEQ
Wet Seal
Nasdaq: WTSL
Workday
Nasdaq: WDAY
WEDNESDAY

Amerco
Nasdaq: UHAL
Brown Shoe Co.
NYSE: BWS
Chico’s FAS
NYSE: CHS
China Sunergy
Nasdaq: CSUN
Cracker Barrel
Nasdaq: CBRL
Daktronics
Nasdaq: DAKT
DSW Inc.
NYSE: DSW
EnerSys
NYSE: ENS
Golar LNG
Nasdaq: GLNG
Golar LNG Partners
Nasdaq: GMLP
Gordman’s Stores
Nasdaq: GMAN
Hawkins
Nasdaq: HWKN
KongZhong
Nasdaq: KONG
Michael Kors
Nasdaq: KORS
Palo Alto Networks
Nasdaq: PANW
Popeye’s Louisiana Kitchen
Nasdaq: PLKI
RBC Bearnings
Nasdaq: ROLL
REX American Resources
NYSE: REX
Safe Bulkers
NYSE: SB
Seadrill
Nasdaq: SDRL
Seadrill Partners
Nasdaq: SDLP
Tilly’s
Nasdaq: TLYS
Toll Brothers
NYSE: TOL
THURSDAY

Abercrombie & Fitch
NYSE: ANF
Annie’s
Nasdaq: BNNY
Avago Technologies
Nasdaq: AVGO
CorVel
Nasdaq: CRVL
Costco Wholesale
Nasdaq: COST
dELiA’s Inc.
Nasdaq: DLIA
Envivio
Nasdaq: ENVI
Esterline Technologies
NYSE: ESL
Exa Corp.
NYES: EXA
Express
Nasdaq: EXPR
Fairway Group
NYSE: FWM
Fred’s Inc.
Nasdaq: FRED
Guess Inc.
NYSE: GES
Iao Kun Group
Nasdaq: IKGH
Infoblox
Nasdaq: BLOX
Lion’s Gate Entertainment
NYSE: LGF
Modine Manufacturing
NYSE: MOD
Nimble Storage
Nasdaq: NMBL
OmniVision Technologies
Nasdaq: OVTI
Pacific Sunwear
Nasdaq: PSUN
Pall Corp.
NYSE: PLL
QAD Inc.
Nasdaq: QADB
Quality Systems
Nasdaq: QSII
Sanderson Farms
Nasdaq: SAFM
Splunk
Nasdaq: SPLK
Tech Data
Nasdaq: TECD
Thermon Group
NYSE: THR
Veeva Systems
Nasdaq: VEEV
Violin Memory
Nasdaq: VMEM
FRIDAY

Ann Inc.
NYSE: ANN
Big Lots
NYSE: BIG
Graham
NYSE: GHM
Multi-Color Corp.
Nasdaq: LABL

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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