WHAT’S ON TAP?
This week is over and the weekend is here. But before you find your mouth under the tap let’s take a look at what’s on tap for next week. The economic calendar is relatively busy next week while the earnings calendar is light. A few key names report, however, including FedEx and Best Buy. Both are certain to be market movers. I will be particularly interested to hear what FedEx says about the economy. If the transports are any indication we’ll likely hear more of the same – moderating declines, but no certainty of a recovery. As I mentioned earlier the economic calendar is heavy:
- Monday: Empire State manufacturing , NAHB housing
- Tuesday: May housing starts, May PPI, industrial production and capacity utilization
- Wednesday: May CPI
- Thursday: May Leading Indicators, Phili Fed survey, weekly initial jobless claims
Bernanke speaks on Wednesday Morning and Friday is a quadruple witching day which always makes for an interesting week. Although I believe we are in the midst of a near-term topping process we could see some strength in stocks as window dressing and seasonal strength in oil continues into the end of month.
And lastly, from Reuters: 5 themes for next week.
Do you think the CPI and PPI might move the markets more than usual since this trade as been on inflation?