Wild week ends flat for stocks. Another pancake for the markets. Next week will see the biggest names on the earnings calendar thus far.

Earnings:

  • Monday: KO, AGNC, CLF, FRC, PKG, WHR

  • Tuesday: MMM, ABB, CNC, DHR, DOW, GE, HAL, MCD, PEP, RTX, SHW, THC, UBS, UPS, VZ, GOOG, CMG, ENPH, JNPR, MSFT, PACW, TXN, and V

  • Wednesday: BA, GD, HES, NSC, CP, EBAY, KLAC, META, PXD, ROKU, NOW, TDOC, WOLF

  • Thursday: AAL, BMY, CAT, GWW, HTZ, MA, NOC, ROK, LUV, STM, VLO, AMZN, COF, NET, FSLR, INTC, SNAP, X

  • Friday: CCJ, XOM, JKS, LYB, TNC

Economic Data:

  • TBD: House Vote on GOP Budget

  • Monday: Germany Ifo Survey, Japan PPI

  • Tuesday: February FHA HPI, February S&P Case Shiller, April Consumer Confidence, March New Home Sales, 2-year Note Auction, BoJ CPI, U.K. Public Sector Borrowing, Australia CPI

  • Wednesday: March Durable Orders, March International Trade of Goods, 5-year Note Auction, Germany GfK Consumer Survey, China Industrial Profits

  • Thursday: Q1 GDP- Advanced, March Pending Home Sales, 7-year Note Auction, Japan CPI, Unemployment Rate, Retail Sales, Bank of Japan Interest Rate Decision, South Korea Industrial Production

  • Friday: March Personal Income & Spend, PCE Prices, March Employment Cost Index, UoM Survey- Revision, Chicago PMI, Germany Import Prices, Germany CPI- Prelim, France CPI- Prelim, Eurozone GDP- Prelims, China Manufacturing & Services PMI

Corporate/Conferences:

  • Tuesday: Morningstar Investor Conference, CSCO Tech Talk

Analysis:

Markets traded within a tight range during the past week, and the initial round of financial earnings was better than anticipated. Although there are some areas of weakness in the economy, such as Mobile, PC, and Freight, data reflects a strong consumer presence.

Next week, there will be an increase in earnings, with a focus on mega-cap tech companies such as GOOG, META, AMZN, MSFT, and INTC, as well as other notable tech reports. Industrial companies such as ABB, GE, RTX, GD, CAT, GWW, LYB, NOC, and ROK will also be in focus, along with staple companies such as KO and PEP, financial companies such as MA, V, COF, and PACW, and energy companies such as ENPH, HES, VLO, FSLR, and XOM.

Several key economic reports are also set to be released, including the PCE Prices (the Fed's preferred measurement for inflation) and Personal Spending and Income, as well as the first look at Q1 GDP. The April Consumer Confidence number will provide insight into spending habits, while European CPI and GDP data, as well as the Bank of Japan's interest rate decision, will be released. Additionally, China's Manufacturing and Services PMI data will be released towards the end of the week.

Finally, there will be a vote on the GOP budget proposal, which will bring attention to the debt ceiling debate as the deadline approaches.

TECHS:

Both the Nasdaq and the SPX are at an inflection point.



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