WEEK UPCOMING

It's another big earnings week coming up as firms from Apple to Caterpillar to Microsoft to Verizon announce earnings and the dove-hawk show continues with Yellen speaking again in Washington and Fisher in Los Angeles and Bullard, another hawk, in Kentucky.

On the economic front from consumer confidence ex food and energy (as if anyone really believes it) to US durable goods to German consumer confidence are on the docket.

Monday, July 21

US Economics (Time Zone: EST)

08:30 Chicago Fed National Activity Index - expected 0.18, prior 0.21
11:00 Fed to purchase $1b-$1.25b bonds in 22-30 year range
11:30 Treasury to sell $26b 3-month bills and $24b 6-month bills

Global Economics (Time Zone: GMT)

04:30 JPY All Industry Activity Index
06:00 CHF Trade Balance
08:30 GBP Public Trade Balance

Earnings

Before:
Halliburton (HAL)
BB&T (BBT)
Suntrust Banks (STI)
Six Flags Entertainment (SIX)

After:
Chipotle Mexican Grill (CMG)
Netflix (NFLX)
Texas Instruments (TXN)
Rent-A-Center (RCII)

Tuesday, July 22

US Economics (Time Zone: EST)

08;30 Consumer Price Index YoY (June) - expected 2.1%, prior 2.1%
08:30 CPI Ex Food & Energy YoY - exp 2.0%, prior 2.0%
09:00 FHFA Home Price Index MoM (May) - exp 0.2%, prior 0.0%
10:00 Richmond Fed - exp 5, prior 3
10:00 Existing Home Sales (June) - exp 4.99M, prior 4.98M
11:30 Treasury to sell $25b 52-week bills, 4-week bills

Global Economics (Time Zone: GMT)

01:30 AUD CPI
08:30 GBP Boe Minutes
12:30 CAD Retail Sales

Earnings

Before:
Coca-Cola (KO)
duPont (DD)
Harley-Davidson (HOG)
McDonald's (MCD)
Comcast (CMCSA)
State Street (STT)
Lockheed Martin (LMT)
Verizon (VZ)

After:
Apple (AAPL)
Microsoft (MSFT)
Electronic Arts (EA)
Broadcom (BRCM)
Juniper (JNPR)
VMWare (VMW)
Discover Financial Services (DFS)

Xilinx (XLNX)
TDAmeritrade (AMTD)
Regions Financial (RF)

Wednesday, July 23

US Economics (Time Zone: EST)

07:00 MBA Mortgage Apps
11:00 Fed purchasing $2.5b-$3.25b notes in 7 to 10-year range

Fedspeak:

10:00am Yellen (dove, chair) to give semi-annual testimony to House Committee
12:00pm Fisher (hawk, voter) speaks in Los Angeles

Global Economics (Time Zone: GMT)

NZD RBNZ Rate Decision
JPY Trade Balance
01:45 CNY HSBC Manufacturing PMI (July prelim)
08:00 EUR Eurozone Manufacturing & Services PMI
08:30 GBP Retail Sales

Earnings

Before:
Boeing (BA)
Dow Chemical (DOW)
Freeport-McMoran (FCX)
General Dynamics (GD)
Biogen (BIIB)
Delta Airlines (DAL)
Whirlpool (WHR)
Pepsi (PEP)
EMC Corp (EMC)
Norfolk Southern (NSC)

After:
Qualcomm (QCOM)
Citrix (CTXS)
Gilead Sciences (GILD)
F5 Networks (FFIV)
AT&T (T)
CA (CA)
Tractor Supply Co (TSCO)
Etrade Financial (ETFC)
Illumina (ILMN)
Sallie Mae (SLM)
Facebook (FB)
TripAdvisor (TRIP)

Thursday, July 24

US Economics (Time Zone: EST)

08:30 Initial Jobless Claims, June 28, exp. 309k, prior 302k
08:30 Continuing Claims - exp 2513K, prior 2507k
09:45 Markit US Manufacturing PMI (July prelim) - exp 57.5, prior 57.3
10;00 New Home Sales (June) - exp 480K, prior 504K
11:00 Kansas City Fed - exp 6, prior 6
11:00 Fed to purchase $2b-$2.5b notes in 5 to 6-year range
1:00 Treasury selling $15b 10-year TIPS

Fedspeak

1:35pm Bullard (hawk, nonvoter) speaks in Kentucky

Global Economics (Time Zone: GMT)

Japan Investors Purchases of Foreign Stocks/Bonds
JPY CPI
06:00 EUR German GfK Consumer Confidence
08:00 EUR German IFO Current Assessment, Expectations
08:30 GBP GDP (2Q advance)
14:15 BoJ's Kuroda to speak in Thailand

Earnings

Before:
Cabot Oil & Gas (COG)
Cliffs Natural Resources (CLF)
Starwood Hotels & Resorts (HOT)
Noble Energy (NBL)
Union Pacific (UNP)
DR Horton (DHI)
General Motors (GM)
Ford (F)
Southwest Airlines (LUV)
NASDAQ (NDAQ)
Raytheon (RTN)
UnderArmour (UA)
Caterpillar (CAT)

After:
Starbucks (SBUX)
Deckers (DECK)
Amazon.com (AMZN)
Riverbed (RVBD)
Netsuite (N)
Homeaway (AWAY)
Visa (V)
Pandora (P)
American Airlines (AAL)

Bristol-Myers (BMY)
3M (MMM)
Jetblue Airlines (JBLU)
Dunkin Brands (DNKN)
GrubHub (GRUB)
Celgene (CELG)

Friday, July 25

US Economics (Time Zone: EST)

08:30 Durable Goods Orders (June) - expected 0.5%, prior -1.0%
08:30 Durable Goods ex Transports - exp 0.5%, prior -0.1%
08:30 Cap Goods Shipments Nondef Ex Air - exp 1.5%, prior 0.4%
08:30 Cap Goods Orders Nondef Ex Air - exp 0.4%, prior 0.7%

Global Economics (Time Zone: GMT)

01:30 CNY June Property Prices
12:30 CAD CPI

Earnings

Moody's (MCO)
Xerox (XRX)

Twitter: @MichaelSedacca

Read more: http://www.minyanville.com/business-news/markets/articles/7/18/2014/id/55588#ixzz37webgeAJ