The Week Ahead Sees Federal Reserve Open Committee (FOMC) Minutes Due Out Wednesday
The Dow Jones Industrial Average, S&P 100, NASDAQ 100 and Russell 2000 were higher on a weekly basis for the first time in three weeks. 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 is a holiday in the U.S. Wednesday sees Federal Reserve Philadelphia President Patrick Harker speak. Thursday sees Federal Reserve Atlanta President Raphael Bostic speak.
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 existing home sales and leading indicators.
3.Earnings Releases. Notable releases next week include WMT HD SO DISH INTU HPQ RY PEG.
Monday, February 19
Markets are closed for President’s Day in the United States.
Tuesday, February 20
Tractor Supply (TSCO) holds their investor day and is a Type 4 Long Squeeze.
Wednesday, February 21
January Existing Home Sales are due out at 8:30 a.m. EST and are expected to rise to 5,600,000 from 5,570,000.
The Federal Reserve Open Market Committee (FOMC) releases their minutes from the January meeting.
Thursday, February 22
January Leading Indicators are due out at 8:30 a.m. EST and are expected to remain at 0.6%.
Barrick Gold (ABX) holds their investor day and is a Type 4 Long Squeeze.
Friday, February 23
Watch over the weekend for Berkshire Hathaway (BRKA) Chairman Warren Buffet’s annual letter.