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dow2664 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 April’s 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. Wendy’s/Arby’s 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 Macy’s, Cisco Systems and Zipcar. Investors will focus more on the Macy’s report. Macy’s 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 Kohl’s, 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 Laden’s 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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