The Week Ahead
The Dow Jones Industrial Average, S&P 100, NASDAQ 100 and Russell 2000 were all higher on a weekly basis reversing a couple weeks of losses. 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 Cleveland President Loretta Mester speak at 2:45 a.m. EDT and then St. Louis President Bullard speaks at 9:40 a.m. EDT. Wednesday sees Federal Reserve Minneapolis President Raphael Bostic speak at 8:30 a.m. EDT and then St. Louis President Bullard speaks at 6:30 p.m. EDT. Thursday sees Federal Reserve Minneapolis President Neel Kashkari speak at 10:45 a.m. EDT. Friday sees Federal Reserve Cleveland President Loretta Mester speak at 3:00 a.m. EDT.
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 A VIPS HD EXP CSCO NTES WMT AMAT AZN DE.
Monday, May 14
OPEC releases its latest monthly report at 7:00 a.m. EDT.
Tuesday, May 15
April Retail Sales are due out at 8:30 a.m. EDT and are expected to fall to 0.3% from 0.5%.
The U.S. Treasury will sell $13 billion of 30 year bonds and $28 billion of three year notes
Wednesday, May 16
April Housing Starts are released at 8:30 a.m. EDT and expected to rise to 132,500 from 131,900.
April Industrial Production is released and expected to rise to 0.6% from 0.5%.
Thursday, May 17
April Leading Indicators are reported at 10:00 a.m. EDT and expected to rise to 0.4% from 0.30%.
Friday, May 18
None of note.
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