The Week Ahead For February 18th to 22nd: Lots of Economic Data & Warren's Letter

The, Russell 2000, NASDAQ 100 and the Dow Jones Industrial Average were higher for the eighth week in a row. Meanwhile the S&P 100 rebounded to start a new winning streak. The Big Picture [monthly bias] for the S&P 100, Russell 2000 and NASDAQ 100 remain negative on the monthly DMA Channel.

1.Geopolitical and Fiscal Events. Tuesday sees Federal Reserve Cleveland President Loretta Mester speaks. Wednesday sees the FOMC release their minutes. Friday sees Federal Reserve St. Louis President James Bullard and voting member of the FOMC participate in a panel.

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 NAHB Housing Market Index, Durable Goods, Philadelphia Fed Index, Existing Home Sales and Leading Indicators.

3.Earnings Releases. Notable releases this upcoming week include WMT MDT CVS SO KHC BIDU W USM.

Monday, February 18

Markets in the U.S. are closed for trading as President’s Day is observed.

Tuesday, February 19

NAHB Housing Market Index is due out at 10:00 a.m. EST and is expected to rise to 59 from 58.

Federal Reserve Cleveland President Loretta Mester speaks.

Wednesday, February 20

The latest Federal Reserve Open Market Committee (FOMC) Minutes from the last meeting are due out at 2:00 p.m. EST.

Thursday, February 21

December Durable Goods are due out at 8:30 a.m. EST and are expected to rise to 0.2% from -0.3%.

February Philadelphia Fed Index is due out at 8:30 a.m. EST and is expected to fall to 12 from 17.

January Existing Home Sales are due out at 10:00 a.m. EST and are expected to rise to 5.055 million from 4.99 million.

January Leading Indicators are due out at 10:00 a.m. EST and are expected to rise to 0.1% from -0.1%.

Friday, February 22

Federal Reserve St. Louis President James Bullard participates in a panel at the University of Chicago.

On Saturday, Warren Buffet will release his annual letter to shareholders.