March 20, 2019 07:36 PM RSS

The Week Ahead For January 16-19th: Government Shutdown?

  • Wall Street Rebel | Geoff Garbacz
  • 01/16/2018 04:15 PM
The Week Ahead For January 16-19th: Government Shutdown?

The Dow Jones Industrial Average, S&P 100, NASDAQ 100 and Russell 2000 were higher for the second week of the year. The Big Picture [monthly bias] for the NASDAQ 100, the Dow Jones Industrial Average, Russell 2000 and the S&P 100 remain positive.

1.Geopolitical and Fiscal Events. Monday sees Israeli President Netanyahu visit India. Tuesday sees the Kazakhstan President visit the White House to meet with President Trump. Also, on Tuesday Federal Reserve Chicago President Charles Evans speaks in Flordia. Wednesday sees Federal Reserve release its latest Beige Book at 2:00 p.m. EST and the World Economic Forum releases its 2018 Global Risks Report. Also on Wednesday, Federal Reserve Cleveland President Loretta Mester speaks at 4:30 p.m. EST. Thursday sees OPEC release its montly oil report. Friday kicks in a shutdown of the government if Congress does not padd a funding bill. Also on Friday, Vice President Pence travels to the Middle East.

2.Economic Releases. Releases of note this week and next include the weekly chain store sales, oil/gas numbers, mortgage applications, jobless claims and industrial production, housing starts and Michigan Sentiment.

3.Earnings Releases. Notable releases next week include UNH C BAC GS IBM MS STI SLB.

Monday, January 15

Markets are closed in the U.S. for observance of Martin Luther King Day.

Israeli President Benjamin Netanyahu visits India.

Commerce Secretary Wilbur Ross is due to present President Trump with his recommendations on steel tariffs.

Tuesday, January 16

Kazakhstan President Nursultan Nazarbayev visits the White House to meet with President Trump.

Wednesday, January 17

December Industrial Production is due out at 9:15 a.m. EST and is expected to rise to 0.3% from 0.2%.

The Senate Finance Committee is due to vote on the nomination of the next Federal Reserve Chairman Jerome Powell at approximately 11:00 a.m. EST.

The latest Federal Reserve Beige Book is released at 2:00 p.m. EST.

The World Economic Forum releases its 2018 Global Risks Report ahead of next week’s meeting in Davos, Switzerland. President Trump will attend.

Thursday, January 18

December Housing Starts are due out at 8:30 a.m. EST and are expected to drop to 1,278,000 from 1,297,000.

Then at 10:00 a.m. EST the Philadelphia Fed Manufacturing Index is due out and expected to fall to 23.5 from 27.9.

OPEC will release its latest monthly oil market report.

Friday, January 19

January Michigan Sentiment is due out at 10:00 a.m. EST and is expected to rise to 97 from 95.9.

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