Earnings once again will be on the front burner next week.
After what some would call an interesting week in another case of good news for one may be bad news for the other as in a heavy weight economy versus the market match up.
You can almost hear them now: "Please, please don't take away the punch bowl." And some of the punch evaporated from the UK manufacturing bowl as the purchasing manager's index there dropped more than expected and the pound took a haircut to $1.6848 from $1.687 to settle at a seven week low.
The S&P 500 SPX and the German DAX 30 suffered their biggest weekly loss in two years. The DAX shed 2.1% for the week and the S&P 500 2.7% and, if as they say misery loves company, the DJIA refused to be left out, cratering 2.8%, its biggest weekly decline since late January this year.
Monday, August 4
US Economics (Time Zone: EST)
09:45 ISM New York - prior 60.5
11:00 Fed to purchase $950m-$1.15b bonds in 22-30 year range
11:30 Treasury to sell $28b 3-month bills and $25b 6-month bills
Global Economics (Time Zone: GMT)
01:30 AUD Retail Sales
07:30 CHF Manufacturing PMI
08:30 GBP Construction PMI
Earnings
After:
AIG (AIG)
Marathon Oil (MRO)
Pioneer Natural Resources (PXD)
ChannelAdvisor (ECOM)
Tuesday, August 5
US Economics (Time Zone: EST)
10:00 ISM Non-manufacturing (July) - expected 56.5, prior 56.0
10:00 Factory Orders - exp 0.6%, prior -0.5%
11:00 Treasury to sell 4-week bills
Global Economics (Time Zone: GMT)
01:30 AUD Trade Balance
01:35 JPY Services PMI
01:45 CNY HSBC Services PMI
04:30 AUD RBA Rate Decision
08:30 GBP Services PMI
Earnings
Before:
Archer-Daniels-Midland (ADM)
Emerson Electric (EMR)
Louisiana-Pacific (LPX)
CVS Caremark (CVS)
MGM Resorts (MGM)
Cablevision (CVC)
Regeneron (REGN)
After:
Walt Disney (DIS)
Frontier Communications (FTR)
EOG Resources (EOG)
Activision (ATVI)
Continental Resources (CLR)
First Solar (FSLR)
Groupon (GRPN)
Rocket Fuel (FUEL)
FireEye (FEYE)
Office Depot (ODP)
Coach (COH)
Zillow (Z)
Liberty Media (LMCA)
Wednesday, August 6
US Economics (Time Zone: EST)
07:00 MBA Mortgage Apps
08:30 Trade Balance (June) - expected -$45B, prior -$44.4B
2:00 Fed's Beige Book
11:00 Fed to purchase $1.4b-$1.7b notes in 4 to 5-year range
Global Economics (Time Zone: GMT)
NZD Employment Change
05:00 JPY Leading Index (June)
06:00 EUR German Factory Orders
07:15 CHF CPI
08:30 GBP Industrial and Manufacturing Production
Earnings
Before:
Stifel (SF)
Molson Coors (TAP)
Time Warner (TWX)
HollyFrontier (HFC)
Chesapeake Energy (CHK)
NuSkin (NUS)
Apollo Global Management (APO)
Devon Energy (DVN)
Alpha Natural Resources (ANR)
Starwood Property Trust (STWD)
Nationstar Mortgage (NSM)
Parker Hannafin (PH)
After:
MBIA (MBI)
Symantec (SYMC)
Keurig Green Mountain (GMCR)
Prudential Financial (PRU)
Annaly Capital (NLY)
Gulfport Energy (GPOR)
CF Industries (CF)
MolyCorp (MCP)
Sotheby's (BID)
Dish Network (DISH)
Viacom (VIA)
AOL (AOL)
Thursday, August 7
US Economics (Time Zone: EST)
08:30 Initial Jobless Claims, June 28, exp. 305k, prior 302k
08:30 Continuing Claims - exp 2510K, prior 2539k
3:00 Consumer Credit (June) - exp $18.25B, prior $19.62B
11:00 Fed to purchase $2.05b-$2.5b notes in 7 to 10-year range
Global Economics (Time Zone: GMT)
Japan Investors Purchases of Foreign Stocks/Bonds
01:30 AUD Employment Change
11:00 GBP BoE Rate Decision
11:45 EUR ECB Rate Decision
14:00 CAD Ivey PMI
Earnings
Before:
Cooper Tire (CTB)
Goodrich Petroleum (GDP)
Wendy's (WEN)
Duke Energy (DUKW)
After:
Nvidia (NVDA)
Monster Beverages (MNST)
CBS (CBS)
Lions Gate (LGF)
Medivation (MDVN)
Zynga (ZNGA)
Solarcity (SCTY)
Linn Energy (LINE)
Friday, August 8
US Economics (Time Zone: EST)
08:30 Nonfarm Productivity (2Q prelim) - expected 1.4%, prior -3.2%
08:30 Unit Labor Costs - exp 1.2%, prior 5.7%
10:00 Wholesale Inventories MoM (June) - exp 0.8%, prior 0.5%
Global Economics (Time Zone: GMT)
JPY Trade Balance
CNY Trade Balance
BoJ Rate Decision
08:30 GBP Trade Balance
08:30 GBP Construction Output
12:30 CAD Employment Change
Earnings
PDC Energy (PDCE)
Twitter: @MichaelSedacca
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