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A Big Week Approaches for Traders and Investors Alike

Posted on: July 27, 2008 - Email Article - Printable Version

Vinay Ayala

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The week ahead will prove to be crucial to investors as they decide whether or not it is time for them to get back into the equity markets. With a full slate of economic data set to come out and other week full of earnings, this week could make or break the current rally we have seen in equities. Let’s take a look at the day by day breakdown of what is going to happen this week:

Monday Earnings:

Kraft Foods [KFT: 29.69, +0.13 (+0.44%)] – Before Market Opens – Consensus Estimates: $0.50 EPS
Wm. Wrigley Jr. Co. [WWY: 0.00, N/A (N/A)] – Before Market Opens – Consensus Estimates: $0.68 EPS
Verizon [VZ: 29.93, +0.07 (+0.23%)] – Before Market Opens – Consensus Estimates: $0.65 EPS
Tyson Foods [TSN: 17.66, +0.29 (+1.67%)] – Before Market Opens – Consensus Estimates: $0.12 EPS

Tuesday Economic Data:

Case-Shiller Home Price Index – 9:00 AM – Consensus Estimates: (-1%)
Conference Board’s Consumer Confidence Index – 10:00 AM – Consensus Estimates: 50

Tuesday Earnings

BP plc [BP: 57.18, +0.60 (+1.06%)] – Before Market Opens – Consensus Estimates: $2.69 EPS
MetLifeÂ [MET: 42.69, +0.44 (+1.04%)] – After Market Closes – Consensus Estimates : $1.51 EPS
Northrop Grumman Corp [NOC: 64.63, +0.32 (+0.50%)] – During Market – Consensus Estimates: $1.40 EPS
United States Steel Corp [X: 62.49, +1.80 (+2.97%)] – During Market – Consensus Estimates: $3.91 EPS

Wednesday Economic Data:

ADP Unemployment Report – 8:15 AM – Consensus Estimates: (-58k)

Wednesday Earnings

First Solar Inc. [FSLR: 115.24, +0.32 (+0.28%)] – After Market Closes – Consensus Estimates: $0.58 EPS
Hess Coroporation [HES: 61.65, +1.22 (+2.02%)] – Before Market Opens – Consensus Estaimtes: $2.76 EPS
Starbucks [SBUX: 25.29, +0.87 (+3.56%)] – After Market Closes – Consensus Estimates: $0.18 EPS
Visa Inc [V: 91.65, -0.76 (-0.82%)] – After Market Closes – Consensus Estimates: $0.48 EPS
Walt Disney [DIS: 33.75, +0.03 (+0.09%)] – After Market Closes – Consensus Estimates: $0.61 EPS

Thursday Economic Data:

Initial Jobless Claims for the Week – 8:30 AM – Consensus Estimates: 390k
2Q Real GDP Growth – 8:30 AM – Consensus Estimates: 2.2%

Thursday Earnings:

Apache Corp. [APA: 104.65, +0.33 (+0.32%)] – Before Market Opens – Consensus Estimates: $4.10 EPS
Chesapeake Energy [CHK: 25.42, 0.00 (0.00%)] – After Market Closes – Consensus Estimates: $0.88 EPS
CVS Caremark Corp [CVS: 34.93, +0.20 (+0.58%)] – Before Market Opens – Consensus Estimates: $0.60 EPS
ExxonMobil Corp. [XOM: 66.57, +0.27 (+0.41%)] – Before Market Opens – Consensus Estimates: $2.52 EPS
Kellogg Co. [K: 52.83, +0.32 (+0.61%)] – During Market – Consensus Estimates: $0.81 EPS
Mastercard Incorporated – [MA: 249.34, -0.74 (-0.30%)] – During Market – Consensus Estimates: $2.01 EPS

Friday Economic Data:

Unemployment Rate – 8:30 AM – Consensus Estimates: 5.6%
Nonfarm payrolls – 8:30 AM – Consensus Estimates: (-75k)
ISM Manufacturing Index – 10:00 AM – Consensus Estimates: 49.1

Friday Earnings

Chevron [CVX: 73.98, +0.41 (+0.56%)] – Before Market Opens – Consensus Estimates: $3.03

Clearly this week is full of economic data and earnings releases that will dictate how we move forward out of the Q2.Â With many energy and consumer stocks reporting this week, we should also be able to gauge how the consumer responded to the stimulus checks this quarter and how high commodity prices are affecting the bottom line for energy companies. With a bulk of the data coming after Wednesday, I believe the economic data, particularly unemployment and GDP numbers, will weigh heavily on the equity markets.

-Vinay Ayala

Disclosure: The mutual fund that the author is associated with is long CHK, APA, CVS , DIS, V, MET

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