The Week Ahead: Zero In on Banks

By

Christopher Versace

 | Jul 13, 2014 | 8:00 PM EDT
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Late last week I attended a conference in Las Vegas and appeared on several business programs, including Kitco News and Power Trading Radio. When asked about last week's market action, I said I thought it was a limbo kind of week, and that investors were waiting for the real start to the June-quarter earnings season. Indeed, other than earnings results from Alcoa (AA) and Wells Fargo (WFC), there was little news flow to drive the market last week, be it economic or earnings-related. Yes, we saw that modest whipsaw from Portugal's bank crisis, but by and large investors were waiting for what's due to begin Monday.

The coming week will be chock-full of economic data and corporate earnings. The full listing of economic data can be found below, but the numbers on which to focus include Tuesday's June retail sales; Wednesday's producer price index and industrial-production figures, and the latest Federal Reserve Beige Book; and June housing starts on Thursday. Commentary from both Family Dollar Stores (FDO) and The Container Store (TCS) pointed to weak consumer traffic, but the consensus expectation for June retail sales, excluding autos, is for a gain of 0.6% -- up from a worse-than-expected 0.1% in May....901 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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