Sunday, April 25, 2010

Catalysts to watch coming up $GS Senate Hearing, FOMC $MET $COP $CVX

·         Earnings – another busy week – there are a slew of reports coming up, w/the mix of companies shifting to energy (we get #s from CVX, XOM, CP, RDS, and COP) and insurance (MET, ACE, ALL).  We will also hear from DD on Tues andDOW on Wed. 

·         Pretty full week of economic events coming up as earnings season progresses. In the US, we'll get a first look at Q1 GDP and the S&P/Case-Shiller Index for Feb. In Europe a few Eurozone-wide datapoints will hit inc. Unemployment and CPI. In the rest of the world, the focus will be on China's PMI Manufacturing index for Apr. which hits Friday (4/30) night. Central Banks will be active with an FOMC meeting on Wednesday, a BoJ meeting on Thursday night and a Reserve Bank of New Zealand meeting on Wednesday.

·         FOMC meeting Tues/Wed (decision out Wed afternoon) - Fed preview article from the WSJ (this hit late in trading today).  Fed will talk at meeting Tues/Wed about selling assets, but won't make a move on this front for some time.  The Fed prob. won't talk about asset sales in its statement.  re rates, the WSJ this afternoon said that while the recovery is picking up steam, it hasn't been "vigorous" or "long lasting" enough to warrant raising them soon.  The Journal says the Fed will reit "extended period" during Wed's FOMC statement.

·         Goldman execs to appear before Senate hearing on Tues Apr 27 – CEO L Blankfein, F Tourree, along w/Goldman's CFO and other execs, will be testifying.     

·         Financial regulatory reform - Sen Majority Leader Reid has set a 5pmET vote for Monday that could clear the way for the Senate to begin debating a financial regulatory overhaul bill

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