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18 Oct 2013
Wall Street wins fueled by co. earnings; data validity rumors spread among QE specs
FXstreet.com (Chicago) - Wall Street closed the week with gains with the Dow up 0.15%, the Nasdaq up 1.29% and the S&P 500 up 0.62%.
Market retraced in the last half hour after a day with steady climbs throughout all indexes in the US. An alleged corruption in US data that will be coming did not provide restful psyches fueling skeptical views based on market participants comments about how ineffective the government was during the shutdown and how it is post shutdown.
USD smashed
On companies’ earnings, notably Google reaching all-time records after flirting with the $1,000 levels, optimism was felt after weeks of instability due to uncertainty in regards to the debt ceiling hard deadline, not extended, and the US shutdown, also extended. Throughout the week, Wednesday marked the day when the greenback strengthened at the unison of stocks to b eventually smashed amid speculations regarding the QE tapering by the Fed with a dovish Yellen and new dates for battles between democrats and republicans – that said, early next year.
A divided country
According to the S&P’s rating services, the shutdown made the country lose $24 billion and the confusion, anger, disappointment apparently felt by the country is illustrated by the words off lawyer Ben Stein “We learned how very angry and divided this country is. And learning that people opposed to the entitlement state are ready to take extremely drastic action to stop it... some kind of process of national reconciliation must be going on.”
Data to be released
The revised data schedule for next week, without confirmation by the US government is as follows:
Monday 10/21:
EIA Weekly Petroleum Inventories (postponed from previous week)
Tuesday 10/22:
Employment Report - Change in Non-Farm Payrolls/Two-Month Payroll Net Revision/Unemployment Rate; Change in Household Employment/Average Hourly Earnings; Average Weekly Hours/Underemployment Rate/Labor Force Participation Rate (Sept)
EIA Weekly Natural Gas Inventories (postponed from previous week)
Wednesday 10/23:
U.S. Import and Export Price Indexes (Sept)
EIA Weekly Petroleum Inventories
Thursday 10/24:
Job Openings & Labor Turnover Survey (Aug)
EIA Weekly Natural Gas Inventories
Tuesday 10/29:
PPI; PPI Ex-Food/Energy (Sept)
Wednesday 10/30:
CPI; CPI Ex-Food and Energy; CPI Core Index (Sept)
Real Earnings (Oct)
Friday 11/8:
Employment Report (Oct)
WASDE
Tuesday 11/19:
Employment Cost Index (Q3)
Not Yet Scheduled:
Construction Spending/Housing Starts (Aug) - expected week of 10/25
Factory Orders (Aug)
International Trade (Aug)
Wholesale Trade (Aug)
Advance Monthly Retail Sales (Sept)
Business Inventories (Sept)
Usual Weekly Earnings of Wage and Salary Workers (Q3)
Productivity and Costs (Prelim) (Q3)
Job Openings and Labor Turnover Survey (Sept)
U.S. Import and Export Price Indexes (Oct)
Producer Price Index (Oct)
Consumer Price Index (Oct)
Producer Price Index (Nov)
Market retraced in the last half hour after a day with steady climbs throughout all indexes in the US. An alleged corruption in US data that will be coming did not provide restful psyches fueling skeptical views based on market participants comments about how ineffective the government was during the shutdown and how it is post shutdown.
USD smashed
On companies’ earnings, notably Google reaching all-time records after flirting with the $1,000 levels, optimism was felt after weeks of instability due to uncertainty in regards to the debt ceiling hard deadline, not extended, and the US shutdown, also extended. Throughout the week, Wednesday marked the day when the greenback strengthened at the unison of stocks to b eventually smashed amid speculations regarding the QE tapering by the Fed with a dovish Yellen and new dates for battles between democrats and republicans – that said, early next year.
A divided country
According to the S&P’s rating services, the shutdown made the country lose $24 billion and the confusion, anger, disappointment apparently felt by the country is illustrated by the words off lawyer Ben Stein “We learned how very angry and divided this country is. And learning that people opposed to the entitlement state are ready to take extremely drastic action to stop it... some kind of process of national reconciliation must be going on.”
Data to be released
The revised data schedule for next week, without confirmation by the US government is as follows:
Monday 10/21:
EIA Weekly Petroleum Inventories (postponed from previous week)
Tuesday 10/22:
Employment Report - Change in Non-Farm Payrolls/Two-Month Payroll Net Revision/Unemployment Rate; Change in Household Employment/Average Hourly Earnings; Average Weekly Hours/Underemployment Rate/Labor Force Participation Rate (Sept)
EIA Weekly Natural Gas Inventories (postponed from previous week)
Wednesday 10/23:
U.S. Import and Export Price Indexes (Sept)
EIA Weekly Petroleum Inventories
Thursday 10/24:
Job Openings & Labor Turnover Survey (Aug)
EIA Weekly Natural Gas Inventories
Tuesday 10/29:
PPI; PPI Ex-Food/Energy (Sept)
Wednesday 10/30:
CPI; CPI Ex-Food and Energy; CPI Core Index (Sept)
Real Earnings (Oct)
Friday 11/8:
Employment Report (Oct)
WASDE
Tuesday 11/19:
Employment Cost Index (Q3)
Not Yet Scheduled:
Construction Spending/Housing Starts (Aug) - expected week of 10/25
Factory Orders (Aug)
International Trade (Aug)
Wholesale Trade (Aug)
Advance Monthly Retail Sales (Sept)
Business Inventories (Sept)
Usual Weekly Earnings of Wage and Salary Workers (Q3)
Productivity and Costs (Prelim) (Q3)
Job Openings and Labor Turnover Survey (Sept)
U.S. Import and Export Price Indexes (Oct)
Producer Price Index (Oct)
Consumer Price Index (Oct)
Producer Price Index (Nov)