The earnings calendar, on the other hand, is thick again, with the biggest report of all likely to be Apple’s Tuesday report, especially given the recent weakness in the stock. Technology stalwart Apple Inc. (AAPL) is due to report its second-quarter results Tuesday, coming off a blockbuster first-quarter that broke new sales and profit records.
Other blue chip companies expected to release results next week include 3M Co. (MMM), Boeing Co. (BA) and Procter & Gamble Co. (PG). A handful of companies are set to go public next week, including digital marketing company Acquity Group Ltd. and telecommunications software firm Envivio Inc.
An eventful month will culminate with a batch of data likely to provide fodder for one of Wall Street’s favorite parlor games: guessing about whether and when the Fed will unleash a third round of quantitative easing, or QE3. Wednesday’s policy decision by the Fed will be bracketed by figures on the U.S. housing, consumer confidence, manufacturing and first-quarter economic growth.
Although the central bank is widely expected to keep interest rates at rock-bottom levels, speculation about a third round of stimulus has hit a fever pitch among Wall Street economists and market participants, amid a recent batch of soft U.S. data.
All of which means the data deck will take on added significance, especially a long-suffering U.S. housing market singled out by Fed policy makers as a drag on the recovery. By all indications, few economists see any end in sight to the depression walloping the home sector. Consensus forecasts see the S&P/Case-Shiller Index, released Tuesday, to register a 3.8% decline, the same rate as February’s slide. Meanwhile, March new home sales are seen checking in about 315,000, a marginal rise from February’s reading.
Durable goods orders, typically a volatile data series, should set the stage for gross domestic product data later in the week. On average, Wall Street analysts see the figure rising about 2.0%, with the figure that excludes transportation items seen gaining 0.7%. Given the importance of business spending to GDP, markets may react negatively to a weak reading.
Initial jobless claims, always a closely watched indicator of the U.S. labor market, will be released Thursday. Recently, the number has come in well above market expectations, raising fears that the weakness seen in last month’s employment report may not be a fluke. On average, economists expect new jobless filings to edge higher to 388,000–not far from the psychologically important 400,000 figure that haunted markets for much of the post-crisis era.
Friday’s first-quarter GDP report could confirm the Fed’s bias to keeping the door open to QE3, or squelch the near-relentless speculation that forces traders to finely parse central bankers’ every word. Most economists believe the economy lost steam last quarter, and forecasts reflect that belief: Growth is expected to have decelerated to 2.5% from 3.0% in the final quarter of 2011.
Also, the Reuters-University of Michigan Consumer Sentiment Index will provide markets with a gauge of how consumers are weathering the current bout of rising gas prices and sluggish job growth. Economists in a consensus forecast see the final reading ticking up to 75.9 from 75.7 in March.
In addition to the first-tier data, both the Richmond and Kansas City Fed will issue surveys of the manufacturing sector. Although both indexes have less sway on markets than the monthly Institute for Supply Management manufacturing report, the Fed reports provide a glimpse into how manufacturers are faring in the current climate.
Economics news next week
Tuesday
S&P/Case Shiller home prices report (9 a.m.)
A quartet at 10 a.m.: new home sales, Consumer confidence, FHFA home prices report and Richmond Fed business survey.
Wednesday
Durable goods orders (8:30 a.m.)
FOMC decision (12:30)
Thursday
Jobless claims (8:30)
Pending home sales (10)
Kansas City Fed business survey (11)
Friday
GDP (8:30)
Reuters/Univ. of Michigan consumer sentiment (9:55)
Earnings report next week april 23-27 2012
Monday
Netflix, ConocoPhillips, Xerox, Hasbro
Tuesday
Apple, 3M, Coach, McGraw-Hill, US Steel,
Wednesday
Boeing, Eli Lilly, Corning, KKR, Nasdaq,
Thursday
Aetna, Colgate-Palmolive, Exxon Mobil, Lockheed Martin, PepsiCo, Raytheon, Starbucks,
Friday
No major earnings
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Earnings report next week april 23-27 2012, shares prices forecast next week, stock market prediction next week, economic news to watch next week april 23-27 2012, appale stock, Netflix, ConocoPhillips, Xerox, Hasbro, Apple, 3M, Coach, McGraw-Hill, US Steel, Boeing, Eli Lilly, Corning, KKR, Nasdaq, Aetna, Colgate-Palmolive, Exxon Mobil, Lockheed Martin, PepsiCo, Raytheon, Starbucks, For the latest updates PRESS CTR + D or visit Stock Market news Today
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