Five Market Changers to Watch This Week
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• Fed chief speaks: Ben Bernanke, chairman of the Federal Reserve, will speak early Friday morning (8:15 a.m.) on “monetary policy in a low inflation environment.” Reaction to the speech could be strong. Experts expect the dollar to regain ground next week in light of its decline on Fed easing chatter. If the buck breaks below technical levels, however, the plunge could continue.
• Inflation watch: The consumer price index (CPI) will be out while Bernanke speaks (Friday 8:30 a.m.). Investors will be looking at the numbers for any clue to Fed interest rate policy and the effect of inflation on bond prices. The wholesale inflation number, called the producer price index (PPI), precedes CPI. It’s out Thursday at 8:30 a.m.
• Retail sales: The American consumer is dead. Long live the American consumer. The on-going “will they or won’t they spend” question gets another spin as retail sales for September are released Friday at 8:30 a.m. Back-to-school spending should have pushed spending up. Watch out if the number comes back low.
• Fed minutes: The investment world is bent on divining early what will happen at the next Fed meeting in November. They’ll get a preview of Fed thinking when the minutes of the last meeting are released Tuesday at 2 p.m.
• Major earnings: Global Payment (Monday), Fastenal, ADTRAN, CSX, EXFO, Healthcare Services Group, Intel, Linear Tech (Tuesday), ASML Holding, Domino’s Pizza, Host Hotels, iGATE, JPMorgan Chase, Apollo Group, Spartan Stores (Wednesday), American Apparel, Cantel Medical, Commerce Bancshares, Fairchild Semi, Medtox Scientific, MGIC Investment, Progressive, Safeway, Sensient, Winnebago Industries, WW Grainger, Quidel, Advanced Micro, Cubist Pharma, Google, JB Hunt Transport Services, Joe’s Jeans, Nara Bancorp (Thursday), Charles Schwab, First Horizon, Gannett, General Electric, Genuine Parts, Infosys, Knoll, Mattel, Webster Financial, WD-40 (Friday).