The Week Ahead For April 8th Through April 12th

by Geoff Garbacz | 04/08/2019 5:06 PM
The Week Ahead For April 8th Through April 12th

The NASDAQ 100 was higher as were the S&P 100, Dow Jones Industrial Average and Russell 2000. The Big Picture [monthly bias] for the S&P 100, Russell 2000, Dow Jones Industrial Average and NASDAQ 100 remain negative on the monthly DMA Channel. For the indexes to move out of negative bias situation they need to a close a month above the monthly DMA Channel.

1.Geopolitical and Fiscal Events. Wednesday sees the ECB announce its latest release as well as the FOMC release their latest minutes Also, the EU meets on any Brexit extension.

2.Economic Releases. Releases of note this week and next include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well as factory orders, NFIB Small Business Optimism Index, CPI, PPI and the University of Michigan Sentiment Survey.

3.Earnings Releases. Notable releases this upcoming week include SJR WDFC DAL MSM FAST CBSH JPM WFC PNC FRC.

Monday, April 8

February Factory Orders are due out at 10:00 a.m. EDT and are expected to fall to -0.6% from 0.1%.

Tuesday, April 9

March NFIB Small Business Optimism Index is due out at 6:00 a.m. EDT and last month came in at 101.70. There is no consensus estimate.

The latest NYSE and NASDAQ Short Interest Data through March 29th settlement date are due out.

Wednesday, April 10

March CPI is due out at 8:30 a.m. EDT and is expected to rise to 0.3% from 0.2%.

The European Union holds an emergency meeting to discuss the never ending Brexit dilemma and an extension of the April 12th deadline.

The European Central Bank (ECB) is out with its latest interest rate decision at 7:45 a.m. EDT. Press conference to follow at 8:30 a.m. EDT.

The latest Federal Reserve Open Market Committee (FOMC) minutes are due out at 2:00 p.m. EDT.

Banco Santander (SAN) holds its analyst day and is a Type 4 Long Squeeze.

Thursday, April 11

March PPI is due out at 8:30 a.m. EDT and is expected to rise to 0.3% from 0.1%

Friday, April 12

April University of Michigan Consumer Sentiment is due out at 10:00 a.m. EDT and is expected to fall to 97.6 from 98.4.

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