The Week Ahead Begins Earnings Season
The S&P 500, Dow Jones Industrial Average and the NASDAQ 100 were all higher last week. However, the Russell 2000 was lower.
1.Geopolitical and Fiscal Events. This week sees Federal Reserve Chairman Powell and Vice Chairman Clarida speak on Wednesday.
2.Economic Releases. Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well as Treasury Budget, NFIB Small Business Optimism, CPI, Federal Reserve Beige Book, Retail Sales, Empire Manufacturing, Philadelphia Fed Index, Industrial Production, NAHB Housing Market Index, Housing Starts and University of Michigan Consumer Sentiment.
3.Earnings Releases. Notable releases this upcoming week include FAST JPM WFC GS TSM UNH BAC PEP MS PNC BK STT.
Monday, April 12th
March Treasury Budget is out at 2:00 p.m. EDT and came in last month at $-118.9 billion with expectations of $-659 billion.
Tuesday, April 13th
March NFIB Small Business Optimism is out at 6:00 a.m. EDT and came in last month at 95.8.
March CPI is due out at 8:30 a.m. EDT and is expected to rise to 0.5% from 0.4% with Core CPI at 0.2% from 0.1%.
U.S. Gold (USAU) holds its analyst meeting and is a Type 4 Long Squeeze.
Wednesday, April 14th
The latest Federal Reserve Beige Book is out at 2:00 p.m. EDT.
Thursday, April 15th
April Retail Sales are due out at 8:30 a.m. EDT and are expected to rise by 5.3% from -3.0%.
April Empire State Manufacturing is due out at 8:30 a.m. EDT and is expected to come in at 23 from 17.4.
April Philadelphia Fed Index is due out at 8:30 a.m. EDT and is expected to fall to 35 from 51.8.
March Industrial Production is due out at 9:15 a.m. EDT and is expected to rise to 2.9% from -2.2%.
April NAHB Housing Index is due out at 10:00 a.m. EDT and is expected to rise to 84 from 82.
Friday, April 16th
March Housing Starts are due out at 8:30 a.m. EDT and is expected to rise to 1,621,000 from 1,421,000. March Building Permits due out at the same time are expected to rise to 1,750,000 from 1,682,000.
The April University of Michigan Consumer Sentiment is due out at 10:00 a.m. EDT and is expected to rise to 88 from 84.90.