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Morning Matters:

The Week Ahead
by Geoff Garbacz

April 16, 2018

The Dow Jones Industrial Average, S&P 100, NASDAQ 100 and Russell 2000 were all higher on a weekly basis thanks positive action Tuesday, Wednesday and Thursday. 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 Federal Reserve Atlanta President Raphael Bostic speak at 1:15 p.m. EDT. Tuesday sees Federal Reserve San Francisco President John Williams speak at 9:15 p.m. EDT and Chicago President Charles Evans at 1:40 p.m. EDT. Wednesday sees the latest Beige Book due out. Wednesday also sees Federal Reserve New York President William Dudley speaks at 3:00 p.m. EDT. Thursday sees Federal Reserve Chicago President Charles Evans at 1:40 p.m. EDT. Friday sees the World Bank and IMF hold their spring meetings.

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 retail sales, housing starts, industrial production and leading indicators.

3.Earnings Releases. Notable releases next week include BAC NFLX JNJ UNH MS AXP NVS PM PG GE.

Monday, April 16

March Retail Sales is due out at 8:30 a.m. EDT and is expected to rise to 0.4% from -0.1%.

Tuesday, April 17

March Housing Starts are reported at 8:30 a.m. EDT and expected to rise to 1,260,000 from 1,236,000.

Then at 9:15 a.m. EDT, March Industrial Production is due out and expected to fall to 0.3% from 0.95%.

U.S. Taxes are due at midnight.

Wednesday, April 18

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

The Bank of Canada is out with its latest interest rate decision before markets open.

Thursday, April 19

March Leading Indicators are reported at 10:00 a.m. EDT and are expected to fall to 0.35% from 0.60%.

Friday, April 20

The World Bank and the International Monetary Fund (IMF) hold their spring meeting that lasts through the weekend.

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