Jul 16 2013 | 10:57 AM

The schedule for the week of July 15th includes:

  • Monday:  Retail Sales, Empire State Manufacturing Survey, and Business Inventories
  • Tuesday:  ICSC-Goldman Store Sales, Consumer Price Index, Treasury International Capital, Industrial Production, Housing Market Index, and Esther George Speaks
  • Wednesday:  MBA Purchase Applications, Housing Starts, Beige Book, and Federal Reserve Chairman, Ben Bernanke Speaks
  • Thursday:  Weekly Jobless Claims, Philadelphia Fed Survey, Leading Indicators, 10-Yr TIPS Auction, Federal Reserve (“Fed”) Balance Sheet, and Fed Chairman Ben Bernanke Speaks
  • Friday:  None

I spoke with Benedict Willis III, Managing Director of Albert Fried & Company, LLC., and frequent commentator on Bloomberg, CNBC, and FOX Business, about the economic calendar for next week.  Willis will be focused on the overall market, second quarter earnings, housing data, Empire state...

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Jul 16 2013 | 8:41 AM

Ahead of the Bell: Dow futures are trading down 4 points and S&P futures are trading down 2 points as the major indices hit another all-time highs on strong earnings from the banking sector.  Goldman Sachs reported better than expected quarterly results on strong investment banking. All eyes will be on Federal Reserve Chairman, Ben Bernanke as he begins his two-day testimony before congress. Fed watchers will be looking for clues on the central bank's policy as it looks to wind down its stimulus program. German investor sentiment unexpectedly fell in July, reflecting economic tensions in the 17-member bloc and a global slowdown, which is impacting exports. China plans to restrict vehicle sales in eight cities to curb traffic congestion and pollution. 

  • On the economic calendar today, June consumer prices will be released before the market opens and a 0.4% increase is expected, vs. a 0.1% rise in May. June Industrial production will also...
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Jul 15 2013 | 8:12 AM

Ahead of the Bell: Dow futures are trading up 28 points and S&P futures are trading up 3 pointsafter China's second quarter GDP came in slightly below expectations. The world's second largest economy's growth rate slowed to 7.5% versus 7.7% a year ago, as lower demand overseas weighed on output and investments.  The country's industrial output in June also rose less than anticipated, while retail sales advanced more than expected. Investors are optimistic Beijing will respond with more monetary stimulus to revamp the economy in light of the deteriorating data.



  • On the economic calendar today, June's retail sales data will be out prior to the opening bell; it is forecasted to be 0.8% compared with 0.6% for May.  Empire State manufacturing survey for July will also be released before the opening bell;  a reading 5 is expected versus 7.84 for June.

  • The dollar is up against the euro and...
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Jul 12 2013 | 8:21 AM

Ahead of the Bell: Dow futures are trading up 10 points and S&P futures are trading up 2 points.  Upbeat earnings outlook and positive Fed comments are pushing stocks to thier best week in eight months. The risk on trade is back and bargain hunters are seeking deals, propelling the major indices to record highs after Federal Reserve Chairman, Ben Bernanke reassured markets that the central bank's monetary policy will be accommodative for some time. The banking sector will be in focus today, as JPMorgan Chase and Well Fargo both reported better than expected quarterly results.



  • On the economic calendar today, June producer prices will be released before the market opens and a 0.5% increase is expected, unchanged from May.  Consumer sentiment for July will be issued after the market opens and a reading of 84.1 is forecasted, unchanged from the month before.

  • Key speeches today include Federal...
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