MONDAY: A very big week in earnings starts off with a big miss at a major bank, nearly 7% growth in China and the FOMC watching before next week’s meeting.
TUESDAY: Earnings are staring to pour in, but the market is continuing to trade around the flat line. A little period of building a base wouldn’t be the worst thing for this market that isn’t exactly certain of what it wants to do or where it wants to go.
WEDNESDAY: Lots more earnings, but not much reaction. Most of the attention is being paid to a rash of buy-outs and take-overs, as the market seems to be awaiting the affirmation from the FOMC that they won’t likely raise rates until 2016. A really strong retail season and some real upward movement in GDP could change that, though.
THURSDAY: More earnings and more “I don’t care” kind of reaction, as individual names continue to be more likely to beat on earnings, but miss on revenue. That story is getting old, but individual names are still selectively being harshly punished if missing on earnings.
FRIDAY:. After yesterday’s surprising surge, probably fueled by the ECB’s suggestion that QE would continue, comes great earnings from some big boys and the announcement of a Chinese rate cut. Result? Markets are surging again in the pre-open futures to end the week.
“SNEAK PEEK AT NEXT WEEK” APPEARS ON FRIDAYS