Economic: Treasury Budget (-$95.0B).
Earnings: Third tier and typical quiet Monday with Matrix (MTRX) and HB Fuller (FUL) reporting.
Other Notables: Bulls will be looking for follow-through in price following optimistic consolidation phase of past week. Tickers of influence include Black gold (USO) attempting to break bearish flag patterns and iShares 20-Yr (TLT) testing uptrend supports with doji finish on Friday.
Tuesday:
Economic: Consumers in focus with August retail sales data and Best Buy report. Analysts expect total and ex-auto retail sales figures to increase by 0.3% compared to July's 0.4% and 0.2% readings. Business Inv's (0.8% versus 0.3% prior).
Earnings: Consumer electronics giant Best Buy (BBY) reports before the open. Analysts expect a near 20% profit increase on earnings of $0.44 per share. Combo of technical laggardship and positive outlook could provide necessary spark (with retail sales data) to lift market bulls through 200SMA in SP-500. Others: Cracker Barrel (CBRL), Kroger (KR) and Pall (PLL).
Wednesday:
Economic: Weekly Crude data, NY Empire (5.0 vs. 7.1 prior), Import / Export, IP & CU (0.3%, 75.0).
Earnings: AAR (AIR), CLARCOR (CLC) and Dress Barn (DBRN).
Thursday:
Economic: Weekly Claims (460K vs. 451K), PPI & Core (0.3%, 0.1% vs. 0.2%, 0.3% prior) and Philly Fed (0.0 versus prior -7.7).
Earnings: In the trader spotlight, air / ground transport giant and economic bellwether FedEx (FDX) is expected to show profits of $1.20 per share compared to year ago's $0.58.
Technically, FDX shares have lifted slightly into position of relative strength with 200SMA acting as support but weekly showing popular H & S pattern as still intact. Others: Discover (DFS) and Pier 1 (PIR).
After Hours: Tech giants Oracle (ORCL) and RIM (RIM) will likely help dictate Friday's market mood with outlooks on business spending environment.
Analysts expect 20% profit jump to $0.36 per share from Oracle whose shares soared nearly 10% last week on former HP head Mark Hurd taking on co-Prez' role. Others: CKE (CKR) and Herman Miller (MLHR).
Friday:
Economic: CPI & Core (0.2%, 0.1% vs. 0.3%, 0.1%) and Michigan (70.0 vs. 68.9 prior).
Earnings: NA.
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