The Week Ahead For March 4th to 8th: Retail Earnings Front & Center
The NASDAQ 100 was higher for the tenth week in a row. Meanwhile the S&P 100 continued it winning streak to three week. However, the Dow Jones Industrial Average and the Russell 2000 were lower and ended their winning streaks.
1.Geopolitical and Fiscal Events. Wednesday sees Federal Reserve New York President John Williams speak. Also, Wednesday sees the release of the latest Federal Reserve Beige Book Report.
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 construction spending, ISM Non-manufacturing, home sales, Treasury Budget, ADP Employment Report, Federal Reserve Beige Book, Nonfarm Payrolls, Unemployment Rate and Housing Starts.
3.Earnings Releases. Notable releases this upcoming week include CRM CTRP TGT ROST DLTR GWRE COST CNQ MTN WEX.
Monday, March 4
December Construction Spending is due out at 10:00 a.m. EST and is expected to drop to -0.3% from 0.8%.
Tuesday, March 5
February ISM Non-manufacturing Index is due out at 10:00 a.m. EST and is expected to rise to 57.2 from 56.7.
December New Home Sales are due out at 10:00 a.m. EST and came in last month at 657,000.
The Treasury Budget is due out at 2:00 p.m. EST and came in last month at $49.2 billion.
CVS Health (CVS) holds their analyst meeting and is a Type 4 Long Squeeze.
Wednesday, March 6
February ADP Employment Report is due out at 8:15 a.m. EST and ise expected to fall to 175,000 from 213,000.
The Latest Federal Reserve Beige Book is due out at 2:00 p.m.
Thursday, March 7
Etsy (ETSY) holds its analyst meeting and is a Type 1 Short Squeeze. The current short intensity is 64%. When the short selling is moderate, shorts get squeezed 100% of the time. The average move higher is 20% in a short squeeze. The average duration of a heavy squeeze is 54 days and so far the current duration is 742 days and so far the shorts have lost 43.50%.
Friday, March 8
February Nonfarm Payrolls are due out at 8:30 a.m. EST and are expected to fall to 173,000 from 304,000. The unemployment rate is expected to is expected to 3.8% from 4.0%.
January Housing Starts are also due out at 8:30 a.m. EST and are expected to rise to 1,180,000 from 1,078,000.