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).
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