Thursday, May 6, 2010

Catalysts to Watch;Gulf of Mexico; Elections; Economics Calendar

Catalysts to Watch

· Greece parliament voting today on austerity measures (this just passed)

· German parliament voting Fri on extending aid to Greece (expected to pass)

· IMF meeting/voting Sun on the EU/IMF plan (expected to pass)

· Fri May 7 - EU summit Fri May 7.  Spain has said that European fin mins will discuss ways to help the euro at this event

· Fri May 7 – BLS NFP report; Bloomberg consensus looking for 189K total adds

· Fri May 7 – Goldman shareholder meeting Fri morning 9:30amET. 

· Fri May 7 - German Group To File Lawsuit Against German Aid To Greece Friday (DJ) - this was expected to happen but prob. won't help sentiment around the euro

Other Catalysts to Watch

· Gulf of Mexico - BP hopes to install a 70-ton dome that will funnel the oil up to a drilling rig. The containment dome could be lowered as soon as Thurs (WSJ)  

· Financial Crisis Inquiry Commission – hearings scheduled for Wed May 5 and Thurs May 6.  On Thurs May 6, we will hear from former TSY Sec Paulson and current TSY Sec Geithner.  Also on Thurs, we will hear from several execs at GE Capital.

· Elections - The big UK election takes place on May 6 (an important German election is due May 9). 

Economics Calendar – daily view

· Friday, May. 7th: US (Monthly non-farm payrolls, Unemployment rate, consumer credit); Eurozone (UK PPI, German IP); Other (Swiss Unemployment Rate, Canada Unemployment Rate, Reserve Bank of Australia Quarterly Monetary Policy Statement).

Corporate Events Calendar – Week Mon May 3

· Thurs May 6: Earnings after the close (AZPN, SAPE, MAA, HLIT, RNWK, NVTL, ATVI, LEAP, STEC, ROVI).  Sales (retailers will be reporting sales for the month of Apr before the market opens).  Analyst meetings (ERIC, RAX, SNX, GENZ)

· Fri May 7: earnings before the open (RBS, POM, HUN, EIX, ARNA, LINTA, LBTYA, BECN, CF, MIR, GFI, HSBC).  Analyst meetings (NUVA, MSPD, D) 

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