U.S. housing data, Spain in spotlight next week
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Posted On: 09/23/2012 2:01:04 PM
U.S. housing data, Spain in spotlight next week
Corporate-earnings outlooks, results from Lennar, Nike also in focus
SAN FRANCISCO (MarketWatch) — U.S. investors will be looking for a possible bailout request from Spain and U.S. housing data to set the trading tone in the coming week, as they watch out for any corporate guidance ahead of the so-called quarterly earnings season in mid-October.
The market will also get updates on GDP and consumer sentiment, as well as quarterly earnings results from home-builder Lennar Corp. (NYSE:LEN) and footwear and apparel retailer Nike Inc. (NYSE:NKE)
“Many investors and traders are wondering if the market has enough catalysts to push higher, or if we have run our course,” said Robert Fuest, head of investment research at Landor & Fuest Capital Managers.
Among potential euro-zone developments, investors will keep an eye on Spain as speculation grows over whether the country may be setting the stage for a bailout request.
Spain may formally ask the European Central Bank for assistance within the next couple of weeks, “and that much-needed request already has been baked into the current [European Union] bourses, as well as a major contributor to Spain’s dip in bond yields,” said David Brown, chief market strategist at Sabrient Systems.
“However, should there be a bump in the road between Madrid and the ECB, markets on both sides of the Atlantic would be spooked,” he added. “The same holds true for the ECB. If [ECB Chief Mario] Draghi is unable to implement his proposed bond-purchase program, the markets will respond in a sharply negative fashion.”
http://www.marketwatch.com/story/us-housing-d...2012-09-22
Corporate-earnings outlooks, results from Lennar, Nike also in focus
SAN FRANCISCO (MarketWatch) — U.S. investors will be looking for a possible bailout request from Spain and U.S. housing data to set the trading tone in the coming week, as they watch out for any corporate guidance ahead of the so-called quarterly earnings season in mid-October.
The market will also get updates on GDP and consumer sentiment, as well as quarterly earnings results from home-builder Lennar Corp. (NYSE:LEN) and footwear and apparel retailer Nike Inc. (NYSE:NKE)
“Many investors and traders are wondering if the market has enough catalysts to push higher, or if we have run our course,” said Robert Fuest, head of investment research at Landor & Fuest Capital Managers.
Among potential euro-zone developments, investors will keep an eye on Spain as speculation grows over whether the country may be setting the stage for a bailout request.
Spain may formally ask the European Central Bank for assistance within the next couple of weeks, “and that much-needed request already has been baked into the current [European Union] bourses, as well as a major contributor to Spain’s dip in bond yields,” said David Brown, chief market strategist at Sabrient Systems.
“However, should there be a bump in the road between Madrid and the ECB, markets on both sides of the Atlantic would be spooked,” he added. “The same holds true for the ECB. If [ECB Chief Mario] Draghi is unable to implement his proposed bond-purchase program, the markets will respond in a sharply negative fashion.”
http://www.marketwatch.com/story/us-housing-d...2012-09-22
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