Although the major index composites were lower for the week overall last week,
investors on Wall Street hope that the stock market today will carry momentum
over from the last open trading session close on Friday. The Dow Jones
Industrial Average closed out last Friday in the green by .43 percent on the
day. Last week, trends displayed negative movement after opening bell and so all
eyes will be focused on trend line movement after opening bell today to see if
this pattern continues this week. No major news is scheduled for today from an
economic standpoint and so earnings report data will be notable this day.
Earnings reports this day will stem from Hecla Mining, Tyson Foods, Clean Energy
Fuels and several others. Composites will be influenced more by earning reports
and world market news this day. The rest of the week is a bit more busy from an
economic news standpoint. On Tuesday, the Commerce Department will release data
on wholesale inventories in the a.m. and just prior to that in the morning, the
Labor Department will release Aprils data regarding import/export price data.
Disney will be a major earning report posted this day. Investors will eye this
report to get a gauge on business travel and consumer confidence to engage.
Wendys/Arbys group will post earnings data this day as well. Wednesday will
bring the U.S. trade balance for March. The trade deficit is expected to have
grown over the data that registered in February. Earnings reports this day will
stem from Macys, Cisco Systems and Zipcar. Investors will focus more on the
Macys report. Macys is a huge department store chain and so investors can glean
a lot about consumer confidence from a report associated with one of the biggest
department store chains in America. On Thursday, Wall Street will be keenly
focused on the weekly report from the Labor Department. Attention will turn
towards the weekly jobless claims report stemming from the Labor Department. The
department will also release the producer price index for April. Economists are
hoping that the weekly jobless claim applications will fall this week. The
Commerce Department will post data on March inventories. Earnings reports will
post from Kohls, Nvidia and Nordstrom. To end the week on Friday, the University
of Michigan will post data via its preliminary consumer sentiment survey. The
data from this survey is expected to reveal the worries that consumers have
regarding the price of gas and inflationary potentials, although the recent news
regarding Bin Ladens death may help the reading stay steady. The April consumer
price index report will post as well via the Labor Department. Author: Frank
Matto
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