Monday:
Economic: Ongoing potential for wild card credit market drivers.
Earnings: NA.
Tuesday:
Economic: Case Shiller (-3.0%), Consumer Confidence (58.0).
Earnings: Cal-Maine (CALM).
Wednesday:
Economic: Weekly Mortgage Index.
Earnings:
Thursday:
Economic: Weekly Claims (368K), Chicago PMI (60.1), Pending Homes 0.6%), Weekly Crude.
Earnings After Hours: Diamond Foods (DMND).
Friday:
Economic: NA.
Earnings: NA.
TECHNICAL OUTLOOK
Monday:
Economic: Ongoing potential wild card credit market drivers. Treasury Budget (-$139.5B).
Earnings: NA.
Tuesday:
Economic: Retail Sales (0.6% & 0.5% ex auto), Business Inv's (0.9%), FOMC Rate Decision.
Earnings: Big box electronics outfit Best Buy (BBY) reports. Analysts expect the company to show profits of $0.51 per share compared to last year's $0.54. Along with Thursday's earnings delivery from economic bellwether FedEx (FDX), the report is a potential tone-setter for the broader market with consumer spending habits in focus.
Technically speaking, shares of BBY have been a technical laggard the past couple years. Currently, a counter-trend rally of about two months in length is setting up a bearish flag pattern against 200SMA resistance.
Other: FactSet (FDS), Pantry (PTRY).
After Hours: ABM (ABM).
Wednesday:
Economic: Weekly Mortgage Index, Weekly Crude, Import / Export.
Earnings: Synovis (SYNO).
After Hours: VeriFone (PAY).
Thursday:
Economic: Weekly Claims (390K), PPI & Core (0.2% & 0.1%), Empire (3.0), IP & CU (0.2% & 77.8%), Philly Fed (4.3).
Earnings: As noted above, FedEx (FDX) is a likely market mover with its report and attached outlook on the global economy. Analysts expect the air / freight giant to post profits of $1.53 versus last year's $1.16. Technically, shares appear positioned as a higher volatility / beta proxy for the SP-500 with the stock wedged laterally below 200SMA resistance.
Other: Discover (DFS) is expected to earn profits of $0.90 per share versus $0.64 from the year ago period. Technically, shares have established a five month long symmetrical triangle readying itself for a breakout or breakdown from its apex.
Also: Hovnanian (HOV), Pier 1 (PIR), Rite Aid (RAD).
After Hours: Large cap tech is in focus with reports from Adobe (ADBE), RIM (RIMM) and Accenture (ACN).
Friday:
Economic: CPI & Core (0.1% & 0.1%).
Earnings: Darden (DRI).
Monday:
Economic: Ongoing wild card credit market drivers with likely focus on updates or lack thereof from global central bankers, possible ratings shifts from credit ratings agencies and build up in front of Thursday and Friday EU Summit in Brussels.
Officially-Sanctioned Economic Radar: Factory Orders (-0.4%), ISM Services (53.4).
Earnings: Dollar General (DG).
After Hours: Pep Boys (PBY).
Tuesday:
Economic: NA.
Earnings: AutoZone (AZO), Bank of Montreal (BMO), Liquidity Services (LQDT), Toll Bros (TOL), Toro (TTC).
After Hours: Casey's (CASY), Men's Wearhouse (MW), Oxford (OXM), Photronics (PLAB), SAIC (SAI), Vera Bradley (VRA).
Wednesday:
Economic: Weekly Mortgage Index, Weekly Crude, Consumer Credit ($7.0B).
After Hours Earnings: Greif (GEF).
Thursday:
Economic: EU Summit, Weekly Claims (395K), Wholesale Inventories (0.2%).
Earnings: Ciena (CIEN), Costco (COST).
After Hours: Comtech (CMTL), Cooper (COO), Esterline (ESL), Pall (PLL).
Friday:
Economic: EU Summit, Trade Balance (-$44.0B), Michigan (65.0)
Earnings: Titan (TITN).
