By William Trent, CFA of Stock Market Beat
The Economic Calendar starts off light but gets busy toward the end of the week.
- On Wednesday the Federal Reserve will announce that it has not raised rates and issue a statement indicating that it may or may not either raise or lower them in the future. However, their statement will be less scrutable than the preceding.
- On Thursday we’ll find out exactly how much more we have been spending on foreign goods than foreigners have been spending on ours. The general consensus is that it will be $60.1 billion more, give or take a few billion.
- On Friday we’ll get PPI. While the headline figures are estimated to be 0.7% higher for all goods and 0.2% higher excluding food and energy, as usual we’ll focus more on the implications for individual companies and industries.
- Also on Friday is the retail sales report, with the consensus expecting a 0.4% rise for the month.
Earnings season also winds down this week. Nearly all the reports we track are on Tuesday.
- Clearwire (CLWR) – expected to lose money for the foreseeable future, earnings are less important than indications it is not the next Vonage.
- Cisco (CSCO) – A major supplier, Altera, (ALTR) looked weak. That makes us nervous.
- Nvidia (NVDA) – reports on Thursday, with the consensus expecting $0.39 in EPS both this quarter and next.
We look forward to the opportunity to start catching up on some things we had to put aside during earnings season.
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