[转贴] May 4, 2014 Weekend Market Update

沁颍

Last week saw yet another fresh round of new all-time highs recorded in several key US equity indexes namely the Dow Jones Industrial Avg. and the S&P 500 before concerns over new civil unrest in Ukraine prompted steady selling into Friday’s close.  The week saw a barrage of news with The Federal Reserve’s $10 billion tapering decision on Wednesday along with the related monthly employment report Friday being the main focus.  The report showed 288,000 jobs being created in April which was the largest amount in over 2 years.  Unemployment also fell to 6.3% which was the lowest level since 2008 although clouded by the worrisome participation rate and a contradictory flattening wage growth signaling weaker demand.  The positive report was a welcome relief to many bullish analysts who predicted stronger numbers following the paralyzing weather conditions in much of the country which stunted growth earlier in the year.



The CBOE Volatility Index closed just below $13 on Friday and is showing some renewed signs of complacency should the ongoing concerns in Ukraine continue to escalate.  Crude Futures (/CL) continue to look comfortable near the $100 century mark and have seen little volatility even with the Russian conflict possibly unravelling.  Recently forsaken Gold Futures (/GC) saw a spike of nearly 1.5% on Friday after trading near a 3 month low during the week. U.S. Treasuries continue to baffle the markets after yields fell to recent lows near 2.59% Friday following the unemployment numbers even as the reality of a rate hike looks more likely at some point in the distant future.



Earnings season is now in full swing with over 80 S&P companies scheduled to report over next week.  With significantly less economic news expected over the next five days, the market sentiment may be largely based on the performance of several key company results over the near-term.



Major Earnings for the Upcoming Week:



Monday:

BMO: OXY, OWW, PETS, PFE, SYY, TESO, TSN

AMC: AIG, APC, LF, NTK, PZZA, PRI, SMG, THC, TXRS, VND



Tuesday:

BMO: AVTI, CBOE, CNK, COCO, DTV, NUS, OPP, TW, TRIP

AMC: ALL, COKE, DIS, EA, FEYE, FMD, GRPN, MRO, PBPB, VTSS, WFM, ZAGG



Wednesday:

BMO: AGN, AOL, ARIA, CHK, CTSH, DVN, EE, HTZ, HUM, TAP, MDLZ, VSI

AMC: NLY, CAR, CZR, CTL, GMCR, MDR, PRU, SCTY, TSCA, RIG, Z



Thursday:

BMO: APA, DF, DISH, PCLN, WEN, TST

AMC: DVR, CBS, JCOM, JMBA, NVDA, TUMI



Friday:

BMO: HLT

AMC: N/A



Economic Releases (5/5-5/9):



Monday:

09:00 am CT – PMI

11:30 am CT – TD AMERITRADE IMX



Tuesday:

7:30 am CT –Trade Balance

4:30 pm CT – FOMC Member Stein Speaks



Wednesday:

7:30 am CT – Non-Farm Productivity

9:00 am CT – Testimony of FOMC Chair Yellen

9:30 am CT – Oil Inventories

12:00 pm CT – 10-year Note Auction Results

2:00 pm CT – Consumer Credit



Thursday:

7:30 am CT– Weekly Jobless Claims

7:30 am CT– FOMC Tarullo Speaks

9:00 am CT – Business Inventories

9:30 am CT – Natural Gas Inventories

12:00 pm CT – 30-year Bond Auction Results



Friday:

8:55 am CT– Wholesale Inventories

9:00 am CT – JOLTS Job Openings

5:00 pm CT- FOMC Member Korelakota Speaks