Tuesday, June 15, 2010

Catalysts to Watch-BP – Obama speaking Tues night-Spain's Socialist government

Catalysts to Watch

· S&P rebalance - The quarterly share rebalance for the S&P 500, S&P MidCap 400, S&P SmallCap 600 Indices will take place at the close of business Friday, June 18, 2010.  The Russell rebalances will occur June 25. 

· Expiration – quadruple expiration coming up.  

· BP – Obama speaking Tues night to the nation at 8pmET; will be his first address from the Oval Office. 

· BP - There is a House hearing on Thurs before which BP CEO T Hayward will speak and BP’s chairman is going to the White House on Wed. 

· Fin Regulatory Reform reconciliation process kicked back off at 11amET today; the goal is to have the process done by Jul 4.   

· Credit Cards – Sen Durbin is holding a hearing June 16 concerning interchange fees 

· Brokers – we will receive DART numbers from the likes of ETFC, AMTD, and SCHW in the week of June 14 (we received SCHW Mon morning). 

· European bond sales - Spain will sell two long bonds, the 4% April 2020 and 4.70% July 2041, on Thurs; also on Thurs: France will sell up to EUR9.8 billion of three series of BTAN bonds maturing in 2012, 2013 and 2015, and three series of inflation-linked bonds maturing in 2017, 2023 and 2040.  DJ 

· Spain's Socialist government plans on Wednesday to begin pushing through a controversial labor-market overhaul (WSJ) 

· First Look At Week of June 21 – a lot of May-end earnings (RIMM, NKE, ORCL, more).  FOMC decision (June 23). 

· Early look at Q2 earnings – earnings start week of Mon Jul 12 – AA starts things off on Mon Jul 12.  INTC is Jul 13, GE/BAC/C are Jul 16.

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