Monday, April 19, 2010

EVENTS TO watch for the week of Mon Apr 19 $spy

Events to watch for the week of Mon Apr 19 – investors will be focused on earnings for the next two
weeks as the reporting season really gets underway (according to DJ, a third of the Dow Jones Industrial
Average and more than 20% of the companies in the Standard & Poor's 500 Index will post quarterly
results). Some of the bigger sectors to focus on: 1) financials (we get C on Mon, followed by GS Tues
and MS/WFC on Wed; there will be a slew of regional banks reporting earnings all week and CS will
become the first European bank to post #s on Thurs); 2) tech – in hardware, people will watch IBM Mon
night, AAPL Tues night, and EMC Wed night. A slew of semi firms will post #s (inc. SNDK and
QCOM). The rest of the major internets are due to report (YHOO Tues, EBAY Wed, and AMZN on
Thurs); 3) industrials – we will hear from ETN on Tues, UTX on Wed, DHR on Thurs, and HON on Fri;
4) health care – LLY kicks off the week Mon morning, to be followed by BIIB/UNH/JNJ on Tues,
STJ/GENZ on Wed, and OSIP on Thurs); 5) telecoms (T on Wed and VZ on Thurs); 6) consumer (KO on
Tues and PEP on Thurs; SBUX and MCD on Wed); 7) airlines (DAL on Mon, AMR on Wed, LUV/CAL
on Thurs). Away from earnings, a couple other major events in focus: 1) the Senate could start action on
the financial regulatory overhaul legislation (Majority Leader Reid had said he would like to start action
by the end of the week); 2) a delegation from the IMF, EU, and ECB will visit Athens on Mon to discuss
the activation of the rescue package for Greece. It’s due to be a relatively quiet week coming up on the
economic calendar. In the US we’ll get Durable Goods order, PPI and a few Housing datapoints (New &
Existing Home Sales, MBA Mortgage Approvals and House Price Index). In Europe a few datapoints will
hit for the Eurozone inc. ZEW, Industrial New Order and Consumer Confidence. From Central Banks, the
Bank of Canada will hold a Meeting w/an Interest Rate Decision and the BoE will release the minutes
from its recent meeting. There will be a bunch of Fed speakers, inc. two appearances by Bernanke (he
will give the opening remarks at a Chicago Summit at 9amET on Mon Apr 19 and will be appearing
before a House hearing discussing Lehman on Tues Apr 20).
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