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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 President’s 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 it’s Consumer Confidence report for February. Economists expect this index to rise over January’s 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 Macy’s among others. On Wednesday, the National Association of Realtors will release existing home sales numbers. The housing sector has struggled and analysts anticipate that Wednesday’s 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. Kohl’s, 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
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