Economic: NA.
Earnings: Mostly second-tier announcements (AMED, CAAS, DISH, HRBN, SOL, KWK, TSN and WATG) with emphasis on a handful of current and former China-based growth companies.
After Hours reflects similar storyline (CLNE, GNK, GA, MDR, MR, NUAN, RAX and VSAT). Headlining, messy "V'ish" shape "first" corrective base in current growth high flier Ctrip.com (CTRP), a China-based online travel provider. Following Priceline's (PCLN) upside surprise, the name is likely on momentum traders' radars for upside consideration.
Other Notables: Usual suspects of potential "Merger Monday" headlines and European-based chills or thrills (FXE, UUP, TLT and GLD). Rumor headliner Genzyme (GENZ) still in-play while flashing several days of tight consolidation several percent below estimated $75 chatter target. Hewlett Packard's (HPQ) CEO resignation regarding improprieties could impact DJ-30 and more definitively, certain headline fodder.
Friday will hold a grand slam of key economic data. Closer in though, following Friday's worse-than-expected July and June job losses and "Bear-nanke's" recent "unusually uncertain" economic environment testimony, the Fed's one-day Tuesday meeting takes on extra importance with traders. Wall Street will be watching for any clues of policymakers reconsidering their stance on quantitative easing.
Tuesday:
Economic: Productivity Q2 Prelim (0.1%), Unit Labor (1.4%), Wholesale Inv (0.4%) and FOMC Decision of Interest Rates (unchanged at 0.25%).
Earnings: Another session of premarket second tier reports (AIT, AYR, SMG, TECH, JASO and HOGS) with accessory retailer and highly-ranked growth outfit Fossil (FOSL) in play.
Technically shares of FOSL remain in bullish "sloppy "VW" shaped base" after clearing handle on relatively decent but unspectacular volume last week. Thomson First Call expects profits of $0.34 compared to last year's $0.25 per share.
After Hours will be dominated by Dow component and entertainment giant Disney's (DIS) earnings show as traders gain clarity on discretionary consumer spending. Analysts expect $0.58 versus last year's $0.52 per share.
On the growth radar, specialized semi and NASDAQ component Cree (CREE), China-based hotelier Homes Inn (HMIN) and up and comer solar play and recent IPO STR Hldgs (STRI) will hold bulls collective attention.
Other tickers of notice: (AONE, LDK, MYGN, SPWRA and URS).
Wednesday:
Economic: Weekly Crude data, Trade Balance (-$42.5B), Treasury Bud (-$169.0B).
Earnings: Lighter flow of more mostly secondary reports (CSC, EJ, IAG, MFB) with exception of department store goliath Macy's (M). Analysts expect fashionable 40% profit increase to $0.28 per share. Technically, shares remain positioned in consolidation near supports of weekly uptrend.
After Hours showcases computer network giant and NASDAQ 100 component Cisco (CSCO). Margins, capital spending, outlook and / or securing or bettering analyst views of $0.42 per share for 35% profit growth will hold traders interest as bulls look to reclaim 200SMA.
Thursday:
Economic: Weekly Claims (465K, 4.55M), Import / Export prices.
Earnings: Still light crop of reports but a handful of slightly more interesting tickers (EAT, CAGC, EL, KSS, RGLD, SLE, WEN) for the premarket radar.
After Hours features NASDAQ components Autodesk (ADSK), NVIDIA (NVDA) and high-end retailer Nordstrom (JWN). Other tickers: (ADY, BYI, DV and RRGB).
Friday:
Economic: CPI & Core (0.2%, 0.1%), Retail Sales (0.5% vs. -0.5% prior and ex-auto 0.2% vs. -0.1%), Michigan (70.0) and Business Inventories (0.2%).
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