Monday, January 10, 2011

THIS WEEK'S MARKET MOVERS

chart
Courtesy of ChartsEdge
Monday:
Economic: No official US reports but over the weekend China announced its economy grew nearly 10% during 2010 with domestic retail sales growth of 18.5% a key driver. Top officials maintain the country has the "confidence, conditions and capability to maintain long-term stable and fast economic growth."

Earnings:
 Dow component and aluminum giant Alcoa (AA) reports after the bell and unofficially kicking off the Q4 earnings season. Analysts expect profits of $0.19 per share compared to year-over-year $0.01. Technically, shares of AA have enjoyed outsized Q4 run of about 60% and back to its best levels since January 2010 in deep cup-shaped weekly base.

Others: AM: Acuity (
AYI) Helen of Troy (HELE) and SMSC (SMSC). After Hours: Naz'100 component Apollo (APOL).

Tuesday:
Economic: Wholesale Inventories (1.3%).


Earnings:  Lennar (LEN), Supervalu (SVU), HB Fuller (FUL) and Synnex (SNX).

Others:
Wednesday:
Economic: Weekly Crude data, Mortgage Apps, Import / Export, Treasury Bud and Fed's Beige Book.

Earnings: CLARCOR (
CLC).

Thursday:
Economic: Weekly Claims (420K vs. 409K), Continuing (4.07M vs. 4.10M), PPI & Core (0.7%, 0.2%) and Trade Balance (-$40.6B).

Earnings:
Naz' 100 component and India-based IT giant Infosys (INFY) releases before the opening bell. Analysts expect profits of $0.66 versus last year's $0.59 per share. Shares of INFY are just off all-time-highs after run of about 37% during fourth quarter and approximately 5% above a "W" shaped base breakout.

After Hours: Naz' constituent and world's largest but increasingly dismissed semiconductor outfit Intel (
INTC) set to report. Analysts expect profits of $0.53 vs. prior year's $0.40. Technically, shares look to be at a major crossroad with bearish two-month long H & S top taking on more recent bullish Golden Cross and contrarian positioning below both key long-term moving averages.

Friday:
Economic:  CPI & Core (0.4%, 0.1%), Retail Sales (0.7%, ex-auto: 0.6%), IP & CU (0.4%, 75.5%), Michigan (75.0), Business Inventories (0.7%).

Earnings: Dow component and money center banker JP Morgan Chase (
JPM) is expected to produce earnings of $0.99 per share compared to prior $0.74 per share. JPM, along with financial cronies have outperformed during past month but underperformed during 2010. Friday's Supreme Court ruling should continue to influence trading early next week.
 
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