Next Week’s Tape: Earnings Galore and More Debt Dickering
Next week includes another batch of crucial earnings. The reporting season has been another strong one, but forward guidance has been a mixed affair. Stocks generally have trended higher, but the debt-ceiling debate will continue to roil.
Monday
Some key earnings coming from Broadcom, Netflix and Texas Instruments. Also, some regional economic news: the Texas Manufacturing Outlook Survey for July.
Tuesday
S&P/Case-Shiller will tell us that home prices are still lousy. Johnson Redbook’s weekly retail sales also due. And the Richmond Fed tells us what business is like in its area. New home sales and Consumer Confidence data also due out. Cheery and chipper? Maybe not so much. More big earnings from 3M, Amazon, U.S. Steel and Ford. Others reporting include Electronic Arts, Hershey, Occidental Petroleum, Valero, Biogen Idec, Novellus, Fiserv, Juniper, Ford and UPS.
Wednesday
Earnings start to taper a touch, with Akamai, Cabot Oil & Gas, Visa, Aetna, Dow Chemical, Nasdaq, Ryder, Boeing and Southern Co. reporting. Chicago Fed tells us what manufacturing is like in the heartland. The government reports on Durable Goods orders. Energy mandarins tell us how much crude and gasoline we have on hand.
Thursday
Weekly (weakly?) initial jobless claims! July’s jobs report (Aug. 5) will start to come into focus. The pending home sales index and a Kansas City Fed manufacturing survey also on the docket. Earnings? Still some big names in the chute, including Bristol-Myers Squibb, Colgate Palmolive, Automatic Data Proc., CME Group, ExxonMobil, Chesapeake Energy, Met Life, Starbucks, DuPont, Sprint Nextel, Kellogg, Motorola Mobility, KLA-Tencor.
Friday
Get quieter (summer!) on Friday. Chevron, Amgen, Merck, Weyerhaueser, Newmont Mining and Aon report. No major economic news on the docket.
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