Last week ended with green trending for the stock market and the major U.S.
index composites. The Dow Jones was positive by .96 percent. The Nasdaq was
positive by .9 percent and the S&P 500 was green by 1.0 percent. No major
economic or company earnings reports are due out today. The Market in the United
States remains closed this day in observance of Presidents Day today. This week
though, even with one less day of open trading action in the U.S., is a busy
week for earnings and economic news. On Tuesday, the Consumer Board will release
its Consumer Confidence report for February. Economists expect this index to
rise over Januarys index report. In addition to this release, Case-Shiller will
release its home price index. Earnings reports this day will stem from companies
such as Home Depot, Wal-Mart, and Macys among others. On Wednesday, the National
Association of Realtors will release existing home sales numbers. The housing
sector has struggled and analysts anticipate that Wednesdays report will do
little to help. Existing home sales are expected to drop. earnings reports will
post from companies such as Lowes, Dollar Tree, and Saks among others. On
Thursday, the Commerce Department will release its new home sales report during
the first half of trading. In addition, the weekly initial jobless claims report
will post this day. Also on this day, the Commerce Department will release its
Durable Goods orders. Kohls, General Motors, and Target are among companies
scheduled to post earnings reports this day. On Friday, the University of
Michigan will post its reading on consumer sentiment. Another reading on the
U.S.s fourth quarter gross domestic product will post as well. This report will
measure the total of goods and services active in our current economy. Estimates
for this reading are skewed towards moderate growth. JCPenny is among the
companies scheduled to release earnings reports on the last trading day of the
week. Author: Frank Matto
No comments:
Post a Comment