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Morning Matters:

The Week Ahead For February 17th to 21st
by Geoff Garbacz

February 18, 2020

The NASDAQ 100, Dow Jones Industrial Average, S&P 100 and Russell 2000 were higher for the week.

1.Geopolitical and Fiscal Events. Wednesday sees the FOMC out with its latest minutes. The Democrats hold another debate on Wednesday night. Thursday sees the ECB announce its latest update. Also, on Thursday the PBOC is expected to ease again.

2.Economic Releases. Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well as Empire State Manufcturing, NAHB Housing Market Index, PPI, Housing Starts, FOMC Minutes, Philadelphia Federal Reserve Index, Leading Indicators and Existing Home Sales.

3.Earnings Releases. Notable releases this upcoming week include WMT MDT NTES ADI SO AEP RY DE.

Monday, February 17

Markets in the U.S. are closed for President’s Day.

Tuesday, February 18

February NFIB Small Business Optimism Index is due out at 10:00 a.m. EDT and came in last month at 75.

February Empire State Manufacturing is due out at 10:00 a.m. EDT and came in at 4.8 and the estimate is 6.3 for this month.

Wednesday, February 19

January PPI is due out at 8:30 p.m. EDT and came in last month at 0.1% and is expected remain at that level.

Federal Reserve open Market Committee (FOMC) releases its latest minutes from the January meeting at 2:00 p.m. EDT.

The latest Democratic Party Debate takes place in Las Vegas ahead of Saturday’s caucuses there. Thursday, February 20

February Philadelphia Federal Index is due out at 8:30 a.m. EDT and came in at 17 last month and is expected to come in at 10.70.

January Leading Indicators are due out at 10:00 a.m. EDT and are expected to improve to 0.4% from -0.3%.

The latest European Central Bank (ECB) announcement is due out at 7:45 a.m. EDT followed by a press conference at 8:30 a.m. EDT.

Friday, February 21

January Existing Home Sales are due out 8:30 a.m. EDT and the estimate is for it to fall to 5.42 million from 5.54 million.

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