Weekly Commentary: Nov 24 – Nov 28

Monday, November 24, 2008

8:30am Earnings Before the Open: APWR, CPB, CBRL, ITRN, VAL.
10:00am Oct Home Sales (last 5.18M, m/m last 5.5%)
1:00pm Treasury’s two-year note auction
1:00pm TSLF announcement
4:00pm German IFO data.
4:00pm Earnings After the Close: ADI, ATW, CTRN, DCI, HPQ, NUAN, SKIL, UTI.

Tuesday, November 25, 2008

8:30am Earnings Before the Open: AEO, AMWD, BWS, CHRS, CHS, CSUN, DAKT, DLTR, DHI, DSW, EV, ESLT, FLE, GCO, HRL, IDEV, TLB, TECD, UNFI, VIP, WMG, ZLC.
8:30am Q3 preliminary GDP (last -0.3%), Q3 GDP Price Index (last 4.2%), Q3 Personal Consumption (last -3.1%), Q3 Core PCE q/q (last 2.9%)
9:00am Sept S&P/CS Home Price Index (last 164.6), Sept S&P/CS Composite-20 y/y (last -16.6%), Q3 S&P/CS Housing Price Index (last 155.3, y/y -15.4%)
10:00am Nov Consumer Confidence (last 38), Nov Richmond Fed manufacturing Index (last -26), Nov House Price Index m/m (last -0.6%), Q3 House Price Index q/q (last -1.4%)
ICSC/UBSW Chain Store Sales (7:45, last +0.3%). Redbook Retail Sales (8:55, last -0.9%). ABC Consumer Confidence (last -52).
1:00pm Treasury’s five-year note auction
2:00pm TSLF auction
3:00pm TSLF announcement
4:00pm Earnings After the Close: BCSI, BGP, CWTR, DLIA, JCG, NZ, SEAC, LNUX, TIVO, VRGY.

Wednesday, November 26, 2008

8:30am Earnings Before the Open: CONN, DE, FRED, SHMR, TIF, YGE.
8:30am Oct Personal Income (last 0.2%), Oct Personal Spending (last -0.3%), Oct PCE Deflator y/y (last 4.2%), Oct PCE Core (last m/m 0.2%, y/y 2.4%),
8:30am Oct Durable Goods Orders (last 0.9, ex transport -1.0%),
8:30am Initial Jobless Claims (last 542K), Continuing Claims (last 4.012M)
9:45am Nov Chicago Purchasing Manager Index (last 37.8)
10:00am Oct New Home Sales (last 464K, m/m 2.7%), Nov University of Michigan Confidence (last 57.9)
10:35am Crude Oil/Gasoline/Distillate Inventories
12:00pm Natural Gas Inventories
Recommend early close for bond markets. BoJ Minutes. MBA Mortgage Applications (7:00, last -6.2%).
2:00pm TSLF auction
4:00pm Earnings After the Close: DDS, WEDC, ZOLT.

Thursday, November 27, 2008

Bond and equity markets are closed for the Thanksgiving Holiday

Friday, November 28, 2008

8:30am Earnings Before the Open: CMRG, FRO.
10:00am Nov Milwaukee NAPM (last 42)
Recommend early close for bond and equity markets.
4:00pm Earnings After the Close: CENT.

About Craig

Stubborn Bear from Boston