The Market Week Ahead: Sep. 23 – Sep. 27

 

Sep. 23, 2019 – Since the Federal Reserve meeting was last week and earnings season won’t start for a couple more weeks, we’re probably back to trade news being the primary market driver.

It’s not clear what to expect this week, as we’re not aware of anything formally scheduled. The U.N. General Assembly is in New York this week though, while it seems unlikely that President Trump will meet directly with Chinese Premier Xi, meetings between U.S. and Chinese officials could take place, as could a meeting between Trump and some other leader.

It’s also worth keeping an eye on the few companies that do report this week. These off-cycle reports often get a lot of attention because they come out just ahead of the deluge of reports we’ll start getting in about two weeks. To the extent that a good earnings report is a signal of profitable conditions for similar businesses, this seems reasonable, but it is important to remember that every company is different. Particularly in the case of downside surprises, can be hard to tell if a bad quarter is a signal of a deteriorating economy, or just bad management. 

Another thing to be on the lookout for as we near earnings season is pre-announcements. Sometimes, companies will put out revised guidance shortly before they are scheduled to report. This usually ends up being a negative announcement, but it gives management teams a chance to get ahead of a narrative a little bit and hopefully put a more positive spin on things when the official number are released.

Economic Events this Week

Tomorrow’s consumer confidence will be interesting, but it is Friday’s PCE report that is most likely to be market moving. PCE is the Federal Reserve’s preferred measure of inflation.

  • Tuesday
    • 10:00 a.m. – Consumer Confidence
  •  Wednesday
    • 10:00 a.m. – New Home Sales
    • 10:30 a.m. – EIA Crude Oil Inventories
  • Friday
    • 8:30 a.m. – Personal Income
    • 8:30 a.m. – Personal Spending
    • 8:30 a.m. – PCE Price Index
    • 8:30 a.m. – Durable Orders
    • 8:30 a.m. – Durable Goods

Earnings Reports this Week

Nike is the biggest name this week.

Tuesday:

  • Before the bell: AZO, INFO, KMX, JBL, BB
  • After the bell: NKE, CTAS, SNX

Wednesday:

  • Before the bell: None
  • After the bell: KBH

Thursday:

  • Before the bell: ACN, CAG, FDS
  • After the bell: MU, MTN

Friday:

  • Before the bell: None

Sector Analysis 

Strong Sectors past Month

These sectors are up 5% or more in the last 20 trading days:

  • Oil Services
  • Oil & Gas Exploration
  • Silver
  • Steel
  • Robotics & Artificial Intelligence
  • Banks
  • Regional Banks
  • Metals & Mining
  • Retail

Weak sectors past month

These sectors are down 5% or more in the last 20 trading days:

  • None

Strong sectors past five trading days

These sectors are up more than 3% in the last five days.

  • Junior Gold Miners
  • Gold Miners
  • Solar
  • Silver

Weak sectors past five trading days

These sectors are down more than 3% in the last five days.

  • Coal
  • Steel
  • Retail
  • Metals & Mining

Bobby Raines

Bobby Raines

Bobby Raines is the Managing Editor of the Market Intelligence Center. He has degrees in Mass Communications and History from Emory & Henry College. Bobby worked at a mid-sized daily newspaper before making a switch to covering the financial industry full time in the years leading up to the financial crisis. He has been a member of the Fresh Brewed Media team since 2011 and has served as a writer and analyst. You can write to him at braines@marketintelligencecenter.com or follow him on Twitter: @BRatMICenter.

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