The Week Ahead For February 4th See President Trump Deliver The State of the Union
The, Russell 2000, NASDAQ 100, S&P 100 and the Dow Jones Industrial Average were higher for the sixth week in a row.
1.Geopolitical and Fiscal Events. Tuesday sees President Trump deliver the State of the Union Address. Wednesday sees Federal Reserve Chairman Jerome Powell speak. Thursday sees the BOE Out with its latest interest rate decision.
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 order, trade balance and ISM Non-Manufacturing Index.
3.Earnings Releases. Notable releases this upcoming week include GOOGL GILD DIS BP LLY FOXA PM SNY PSX VTR.
Monday, February 4
November Factory Orders are due out at 10:00 a.m. EST and are expected to rise to 0.3% from -2.1%.
Monthly Auto and Truck Sales for January are out at 2:00 p.m. EST.
Tuesday, February 5
January ISM Non-Manufacturing Index is due out at 10:00 a.m. EST and is expected to fall to 57 from 57.6.
Atkore International (ATKR) will hold its analyst meeting and is a Type 1 Short Squeeze. The stock has been heavily short three times and two of the three times the short were squeezed for 9.63% and the one time shorts made money the gain was 14.52%. So far, the shorts have lost 11.70%. The average duration of heavy short selling is 37 days and the shorts have been present for 35 days.
Most stock markets across Asia are closed for the Lunar New Year.
President Trump will deliver the State of the Union Address at 9:00 p.m. EST.
Wednesday, February 6
November Trade Balance is due out at 8:30 a.m. EDT and is expected to improve to $-54.0 billion from $-55.5 billion.
Federal Reserve Chairman Jerome Powell will speak to a town hall of educators in Washington D.C.
Thursday, February 7
The Bank of England will announce its latest interest rate decision and is expected to keep rates at 0.75%.
Friday, February 8
No events of note.