Friday, May 25, 2012

stock market prediction next week may 28 2012

stock market prediction next week may 28 2012, is stock market open may 28 2012, U.S stock exchanges will be closed Monday may 28 2012 : Markets next week will digest data on nonfarm payrolls and unemployment, one of the most closely watched economic indicators, along with monthly sales figures from retailers and auto makers.

Investors will grapple next week with major US economic reports and the looming possibility of a Greek exit from the eurozone, which is likely to keep dragging on equities for weeks to come.

In a light week for earnings, mining-equipment maker Joy Global Inc. (JOY) and data-analysis provider Splunk Inc. (SPLK) are among the companies due to report their latest quarterly results. Major U.S. stock exchanges will be closed Monday for the Memorial Day holiday.

As contingency plans are made for Greece's possible departure from the eurozone, investors may not get a clear picture until Greece holds elections on June 17. As a result, US economic statistics may grab the spotlight during the holiday-shortened week.

Major releases include consumer confidence, gross domestic product and on Friday the May non-farm payrolls report, which could provide clues on whether the economy is running out of steam or has simply hit a soft patch.
US financial markets will be closed on Monday for the Memorial Day holiday.

Corporate news next week is expected to be light, with the first-quarter earnings season largely in the rear view mirror. Among S&P 500 companies, only government contractor SAIC Inc is scheduled to report next week.


Stock Exchanges Closed
Major U.S stock exchanges will be closed Monday to observe the Memorial Day holiday.

May Jobs Report Due Friday
A handful of economic reports are due next week, including the closely watched unemployment-rate numbers and nonfarm payrolls data from the U.S. Department of Labor on Friday.

U.S. job growth slowed again in April as the unemployment rate ticked down one-tenth of a percentage point to 8.1%. Nonfarm payrolls grew by 115,000 in April. The unemployment rate has dropped sharply since August, when it was 9.1%, though some of the drop has been due to people leaving the work force. Federal Reserve officials have said that they expect only gradual progress during the rest of this year.

Automakers Expected To Report Higher May U.S. Sales
Major auto makers are due to report U.S. sales for May on Friday.

New U.S. auto sales are expected to have climbed 31% in May from a year earlier, with Japanese auto makers Toyota Motor Corp. (TM, 7203.TO) and Honda Motor Co. (HMC, 7267.TO) poised for the biggest growth, reflecting progress in recovering from Japan's earthquake last year, according to Edmunds.com.

The online automotive-information provider estimates the month of May will record sales of close to 1.4 million new cars, up nearly 18% from April. The site also projected a seasonally adjusted annual rate of 14.4 million light vehicles for the month.

U.S. auto sales continued their upward climb in recent months, providing a bright spot in the American economy despite high gasoline prices and ongoing woes in housing and employment.

Retailers To Report May Same-Store Sales
U.S. retailers will report same-store sales results for May on Thursday. Large U.S. retailers delivered disappointing sales for April. Macy's Inc. (M), Target Corp. (TGT) and Saks Inc. (SKS) all fell short of expectations last month--even though expectations were low to compensate for an early Easter that drew spending in March. April also was colder, and gasoline prices moved higher, two factors that kept shoppers home and hurt consumer sentiment.


Quarterly Earnings Due From Joy Global, Splunk
Mining-equipment maker Joy Global and data-analysis provider Splunk top a relatively short list of companies expected to report their latest quarterly results next week.

Analysts polled by Thomson Reuters expect Joy Global, which reports Thursday, to post stronger top- and bottom-line results. The company has said it expects commodity markets to improve as the year progresses, driven by the rebuilding of depleted commodity inventories in developing countries.

Meanwhile, Splunk will release its quarterly earnings results for the first time since going public last month. Splunk was founded in 2004 with aims of building a Google for machine data, essentially a search engine for all the data spit out by servers, network switches and smartphones and other devices containing processors. Splunk also reports Thursday.

Earnings are also expected from consulting firm Booz Allen & Hamilton (BAH), grocery story operator Fresh Market Inc. (TFM), movie and television studio Lions Gate Entertainment Corp. (LGF), defense and information-technology company SAIC Inc. (SAI), digital-video-recorder company TiVo Inc. (TIVO) and retailer Vera Bradley Inc. (VRA).

No IPOs Expected Next Week
The combination of a long holiday weekend, a shakier market in general and the bad taste left by Facebook Inc.'s (FB) offering is making for slow going in the IPO markets, with two deals postponed this week and none scheduled for next.

The week before and two weeks after the Memorial Day weekend are normally a very slow time for initial public offerings, because people tend to take vacation before and after the holiday, thinning out the ranks of IPO investors available to attend road show meetings, where the deals are pitched, or to bid on new stocks. It's likely that the market won't see any new deals until early June because of this.

But beyond the calendar, the broader equity market has made for a tougher environment in which to sell new stocks. Major stock indexes have been trending down this month and volatility has been increasing, making higher-risk investments less appealing to investors.

Europe still a concern next week may 28 2012

We are going to continue to worry about Europe no matter what. That is going to be a concern, But with the two main events in Europe not taking place for several weeks, the market will probably concentrate more on the domestic economy and the economic numbers."

But Europe will continue to be closely monitored, with equities affected by any developments in the fiscally troubled region. Increasing worries about the region, coupled with tepid US data, have sent the S&P 500 down more than 5 per cent for May.

But stocks rose this week. The Dow Jones industrial average gained 0.7 per cent, the Standard & Poor's 500 was up 1.7 per cent and the Nasdaq composite index rose 2.1 per cent.

As the Greek elections draw closer, headlines from Europe could unsettle investors.

Belgian Deputy Prime Minister Didier Reynders said it would be a "grave professional error" if central banks and companies were not preparing for a Greek exit from the eurozone.

In addition, French banks, which are among the lenders most exposed to Greece, have stepped up their efforts on contingency plans for the debt-laden country leaving the eurozone, sources familiar with the situation said.

Conferences
Among the significant conferences next week are Wal-Mart Stores Inc.'s (WMT) annual shareholders meeting on Friday in Fayetteville, Ark.; the Barclays Clean Solutions Conference Tuesday and Wednesday in New York; the Bank of America Merrill Lynch Emerging Markets Corporate Conference Wednesday through Friday in Miami; the CF&B Communication and NYSE Euronext New York Midcap Event Wednesday through Friday in New York; the Cowen Technology Media & Telecom Conference on Wednesday and Thursday in New York; the KeyBanc Capital Markets Industrial & Automotive Conference Wednesday and Thursday in Boston; the Lazard Capital Alternative Energy Investor Conference Wednesday and Thursday in New York; and the Sanford C. Bernstein & Co. Strategic Decisions Conference Wednesday through Friday in New York.

For the latest updates on the stock market, PRESS CTR + D or visit Stock Market Today
For the latest updates PRESS CTR + D or visit Stock Market news Today

Related Post:

No comments:

Post a Comment