Thoughts from Thomas on this week:
There is no doubt that the market sentiment has become an emotional negative. The Russian- Ukraine issue, consumer prices rising steeply, and February’s notorious slow trading month have come together to drive investor confidence lower. Rising interest rates on the horizon add to the jitters we are experiencing. Even Walmart with its increased dividend and earnings surprise did little to push the Dow Jones average higher
One issue of concern to us is the fact that Russia is second to Canada in oil imports to the US. As amazing as this is (10 years ago Russia wasn’t even in the top 10) we are not dependent on Russia for oil, but it does point out that Mexico and Venezuela are no longer reliable providers of cheap crude for the US. The result could be renewed interest in the Keystone Pipeline.
We are watching many events and while there has been some ugly stock action, we are still the “Safe Haven” for the world’s investors. The Standard and Poor’s 500 Index is holding up quite well for the month and some positive supplier pricing news could return investors to a sunnier disposition regarding the markets.
What’s coming up next week?
Monday February 21st
Economic Calendar:
- No major economic data released for Holiday
Earnings Calendar:
Earnings Before the Open: None
Earnings After the Close: APA, DOOR, HLX, HSTM, MTW, NEW, PLOW, PRA, SUI, UIS, WMB
Tuesday February 22nd
Economic Calendar:
- 7:45 AM ET ICSC Weekly Retail Sales
- 9:00 AM ET Case Shiller 20-city Index for Dec
- 9:00 AM ET Monthly Home Prices MoM for December
- 9:45 AM ET Markit Manufacturing PMI, Feb-P
- 9:45 AM Et Markit Services PMI, Feb-P
- 9:45 AM Et Markit Composite PMI, Feb-P
- 10:00 AM ET Consumer Confidence for February
- 10:00 AM ET Richmond Fed Index for February
Earnings Calendar:
Earnings Before the Open: AWI, BLD, CBRL, CEQP, CFX, CNP, CTG, CVI, DFIN, DNUT, DORM ESPR, ETRN, EXPD, FLR, HD, HEP, HL, HR, JELD, KBR, LPX, M, MIDD, NOVN, NSA, NXST, SBRA, SOI, TPB, TPX, TRU, VAL, WLKP
Earnings After the Close: A, ACC, ADC, AGR, APEN, APLE, AWR, AXGN, BCC, BLKB, BRY, BXC, CDNS, COKE, CSGP, CUTR, CZR, EPR, ESI, EXAS, FANG, GKOS, HALO, HCC, HIMS, HTGC, JACK, JBT, KTOS, LAND, LPI, MAXR, MOS, MTDR, NDSN, NHI, O, OSPN, PANW, PEB, PEN, PGRE, PSA, PSB, PTCT, QUAD, RDN, RIG, RNG, RRC, RXT, SHO, SKIN, SPCE, SSTI, TA, TALK, TCMD, TDOC, TNDM, TOL, TRUE, TXRH, VNOM, VRSK, WK, WTTR
Wednesday February 23rd
Economic Calendar:
- 7:00 AM ET MBA Mortgage Applications Data
- 8:55 AM ET Johnson/Redbook Weekly Sales
- 4:30 PM ET API Weekly Inventory Data
Earnings Calendar:
Earnings Before the Open: ALIT, ARKO, AVA, BCO, BCRX, CLH, CLVS, DAN, DOC, ETR, FDP, GTHX, HFC, IART, IHRT, KOP, LL, LOW, MFA, NEO, NETI, NI, ODP, OMI, OPCH, OSTK, PLAB, PLYM, PSN, ROCK, SBGI, SSYS, TAP, TJX, TNL, TUP, VRT, WWW
Earnings After the Close: AN, ACA, AHT, AMED, AMSWA, ARNA, ATNI, BAND, BBWI, BMRN, BRD, BKNG, CCAP, CCRN, CDEV, CHDN, CHK, CLOV, CMLS, CPE, CPK, CTRA, CW, DCO, DH, DK, DKL, EBAY, ECPG, EVH, EXR, FIVN, FLGT, FLS, FNF, FUBO, GBT, GH, GSHD, GTY, HEI, HLF, HTZ, IIPR, INN, IR, IRTC, KALU, KW. LHCG, LMND, LUNG, LYV, MANT, MAPS, MED, MGNI, MNRL, NARI, NDLS, NEWT, NGVT, NOVA, NTAP, NUVA, NVRO, OLED, ONEM, ORA, ORCC, OSUR, OUT, PODD, PUMP, RCII, REAL, RGR, RMAX, ROOT, RTLR, RVLV, RYAM, SKLZ, SNBR, SPXC, STAA, SUM, TMDX, TPL, UCTT, VAC, VICI, WES, WLL, XNCR, XPER, Y
Other Key Events:
Barclay’s Industrial Select Conference, 2/23-2/24, in Florida
Citigroup Healthcare Conference (virtual), 2/23-2/24
RBC Capital Global Environmental, Social and Governance Conference, 2/23-2/24
Wells Fargo Real Estate Securities Conference (virtual), 2/23-2/24
Wolfe Research Global Auto, Auto Tech & Mobility Conference (virtual), 2/23-2/24
Thursday February 24th
Economic Calendar:
- 8:30 AM ET Weekly Jobless Claims
- 8:30 AM EST Continuing Claims
- 8:30 AM ET Gross Domestic Product (GDP) Q4 end estimate
- 8:30 AM ET GDP Consumer Spending Q4-E
- 8:30 AM ET GDP Price Deflator, Q4-E
- 8:30 AM ET GDP PCE Prices, Q4-E
- 8:30 AM ET Core PCE Prices, Q4-E prelim
- 10:00 AM ET New Home Sales MoM for January
- 10:30 AM ET Weekly EIA Natural Gas Inventory Data
- 11:00 AM ET Kansas City Fed Manufacturing, for February
- 11:00 AM ET Weekly DOE Inventory Data
Earnings Calendar:
Earnings Before the Open: ACIW, AGIO, AHCO, AMT, AMWD, BALY, CARS, CBRE, CCO, CCOI, CRC, DBRG, DEN, DISCA, DOCN, EDIT, ELAN, EME, EXLS, FCN, FOLD, GCI, GNK, GTLS, HEES, HMHC, HSC, IONS, IRM, KDP, LAUR, LAWS, LNG, LXP, MGPI, MRNA, MYGN, NAUT, NCLH, NEM, NKLA, PCRX, PEG, PLNT, PRFT, PWR, PZZA, RDUS, RUTH, SAGE, SEAS, SHLX, SHOO, SIX, SPTN, SRCL, STAR, TAST, TEN, TFX, TNC, TRGP, USPH, VCEL, W, WOW
Earnings After the Close: AAOI, ACMR, ADSK, ADUS, AEP, AES, AINC, AIRG, ALEX, ALRM, ALTR, AMBC, AMWL, ATSG, AXON, BOOM, BYND, CABO, CARG, CASA, CENX, CHE, CLNE, CODI, COIN, COLD, COLL, CUBE, CVNA, CYTK, DELL, EBS, EIX, ENV, EOG, ETSY, EVBG, FND, FOXF, FTDR, GDOT, GEVO, GLPI, GSBD, HHS, HTA, HURN, ICFI, INGN, INTU, IOVA, KAMN, KWR, LAW. LPSN, LSI, LTCH, MDRX, MGNX, MNST, MP, NVTA, OII, OPEN, OPK, OXY, PING, PLYA, RKT, SEM, SQ, SWCH, SWN, TALO, TMST, TPC, TVTX, TVTY, UHS, UNVR, UPLD, UVE, VAPO, VMW, VRAY, WATT, WSC, YMAB, ZEUS, ZS
Other Key Events:
Barclay’s Industrial Select Conference, 2/23-2/24, in Florida
Citigroup Healthcare Conference (virtual), 2/23-2/24
RBC Capital Global Environmental, Social and Governance Conference, 2/23-2/24
Wells Fargo Real Estate Securities Conference (virtual), 2/23-2/24
Wolfe Research Global Auto, Auto Tech & Mobility Conference (virtual), 2/23-2/24
Friday February 25th
Economic Calendar:
- 8:30 AM ET Personal Income m/m for January
- 8:30 AM ET Personal Spending m/m for January
- 8:30 AM ET PCE Price Index m/m for Jan
- 8:30 AM ET PCE Prices y/y for January
- 8:30 AM ET Core PCE prices m/m for January
- 8:30 AM ET Core PCE prices y/y for January
- 8:30 AM ET Durable Goods Orders MoM for Jan
- 8:30 AM ET WASDE grain report
- 10:00 AM ET University of Michigan Confidence, Feb-F
- 10:00 AM ET Pending Home Sales m/m for January
- 1:00 PM EST Baker Hughes Weekly rig count data
Earnings Calendar:
Earnings Before the Open: GTN, NWN, PNW, STRA
