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 got a little excited toward the close of the week last week, which was somewhat surprising given the Sunday/Monday Ukraine election schedule.
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.
It’s a light period for earnings, but some big names will report. The list follows here.
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.
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 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.
Labels: Market-Outlook, Market-Outlook-2014-Q2, Week Ahead, Week-Ahead-2014
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