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WHAT’S ON TAP?

18 October 2009 by TPC 5 Comments

The earnings calendar is absolutely slammed this week as the reporting season hits full steam. 439 companies report with 135 of the S&P 500 firms reporting. The economic calendar will take a backseat to the earnings reports this week, but I would still look for the housing data to be market moving. Housing starts on Tuesday and Existing Homes Sales on Friday will prove to be important reports. Every day of the week has important earnings reports.

Monday – Market moving earnings include Apple, Eaton, & Texas Instruments.

Tuesday – Market moving earnings include BlackRock, Caterpillar, Coke, Du Pont, Nabors, & United Tech.

ICSC-Goldman Store Sales 7:45 AM ET

Housing Starts 8:30 AM ET

Producer Price Index 8:30 AM ET

Redbook 8:55 AM ET

Wednesday -Market moving earnings include Altria, Boeing, Ebay, Morgan Stanley, US Bancorp & Wells Fargo.

EIA Petroleum Status Report 10:30 AM ET

Beige Book 2:00 PM ET

Thursday -Market moving earnings include MMM, Amazon, At&T, Capital One, Credit Suisse, Mcdonalds Corp, Nucor Corp, & UPS.

Jobless Claims 8:30 AM ET

Leading Indicators 10:00 AM ET

EIA Natural Gas Report 10:30 AM ET

Friday – Market moving earnings include Microsoft & Slumberger.

Ben Bernanke Speaks 8:30 AM ET

Existing Home Sales 10:00 AM ET

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5 Comments »

Grant said:

Wells Fargo, Morgan Stanley, and housing data would seem the most important data. If we get confirmation of Citi and BofA’s poor performance along with more signs that the housing bump is over it seems impossible to believe that an economic recovery is underway. Housing and financials won’t lead us out of this recession but they are strong enough to pull us down again.

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jrsun Reply:
October 18th, 2009 at 4:38 PM

Go ahead and short!
You could have said the same thing 3 months ago too.

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Grant Reply:
October 18th, 2009 at 4:42 PM

I’m not sure where I wrote anything about shorting. I simply said that the most important economic news this week is housing and financials. If those show continued signs of weakness the economic recovery, whether you believe it is roaring, nonexistent, somewhere in between, will end up faltering.

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# 18 October 2009 at 10:28 AM

SS said:

Thx for the preview.

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# 18 October 2009 at 12:44 PM

teomax said:

concerning earnings, some interesting stats:
“As of Friday the 16th, I’ve got the same trend still playing out: 2/3rds of reporting companies have reported NEGATIVE y/o/y EPS, almost 90% of which are double digit, 70% greater than 30% declines, and a full 43.5% with y/o/y EPS declines exceeding 50%!”

from:
http://tickerforum.org/cgi-ticker/akcs-www?post=114804