The Week Ahead: Stoking the Flames of Uncertainty

 | Sep 08, 2013 | 6:00 PM EDT  | Comments
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Stock quotes in this article:

aapl

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vz

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avgo

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qcom

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swks

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gm

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hds

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rh

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Once again, I can say this to you -- what a week it has been! Not only did we get an employment report from the Bureau of Labor Statistics that disappointed on every front but, as we head into the weekend, the ante had been upped regarding U.S. involvement in Syria. We heard chatter and headlines that Iran could order reprisals if the U.S. strikes Syria, and Russian President Vladimir Putin said Russia will continue to supply weapons and aid to Syria. All of this stokes the flames of uncertainty.

It came as little surprise the stock market closed Friday off of its highs. Traders likely lightened up heading into the weekend, so as not to get blindsided walking in Monday morning.

Tuesday is shaping up to be an important day in the week ahead. The mainstream media says there is a shortfall in President Obama's bid to rally international support for a U.S. military strike -- and, against that backdrop, Obama is slated to deliver a televised address on Syria from the White House. I'm sure traders, as well as investors, will be tuning in to see exactly what the plan is in order to assess its impact on Wednesday's stock market.

Also on Tuesday, Apple (AAPL) CEO Tim Cook and others will take the stage at company headquarters, and take the wraps off what investors expect will be at least two new iPhone models. A few other product updates are expected, as well -- among them a new iPhone operating system, iOS 7.

Ahead of that, there is growing chatter that Apple and China Mobile have come to an agreement that would finally bring the iPhone to that carrier. To put the potential relationship into context, China Mobile has 700 million subscribers, making it China's largest mobile carrier. By comparison, Verizon Wireless (VZ), the U.S.'s largest carrier, had 100.1 million subscribers at the end of June. Should Apple announce it is indeed shipping the iPhone to China Mobile, that would be a big volume opportunity for the company, its products as well as its suppliers -- Qualcomm (QCOM), Skyworks (SWKS), Avago Technologies (AVGO) and others.

Speaking of China, we're set to receive a smattering of economic data from the National Bureau of Statistics of China on Sunday, Eastern time. A detailed list that includes industrial production, fixed investment and other indicators can be found here.

The back-half of the week sees the scheduled release of the August retail-sales report. The headline figure here should be strong, given the robust results from domestic auto manufacturers shared last week -- Ford (F), General Motors (GM) and Chrysler. Excluding autos, however, is where the meat will be as we attempt to determine how strong the back-to-school season has been this year. We'll also be getting the latest snapshot on inflation, which should be relatively tame, in the form of August producer prices.

With roughly a month until September-quarter earnings season kicks off, we're still getting a trickle of companies reporting their quarterly results this week. Of those on the docket, the ones I'd be paying more attention to include HD Supply (HDS), Restoration Hardware (RH), Kroger (KR), Lululemon (LULU) and Ulta Salon (ULTA).

One last thing: This week, we once again remember the events of Sept. 11, 2001. Please keep in mind those who lost their lives that day, as well as their family, friends and other loved ones.

 

__________________

Economic Calendar

Monday, Sept. 9

  • Consumer Credit (July)

____

Tuesday, Sept. 10

  • Job Openings and Labor Turnover (JOLTS) Survey (July)

____

Wednesday, Sept. 11

  • Mortgage Bankers Association (MBA) Mortgage Index (Weekly)

____

Thursday, Sept. 12

  • Initial and Continuing Jobless Claims (Weekly)
  • Import and Export Prices (August)
  • Treasury Budget (August)

____

Friday, Sept. 13

  • Retail Sales (August)
  • Producer Price Index (August)
  • Michigan Sentiment Index (Sept.)
  • Business Inventories (July)

 

________________

Earnings Calendar

Monday, Sept. 9

  • Majesco Entertainment (COOL)
  • Five Below (FIVE)
  • Hovnanian Enterprises (HOV)
  • John Wiley & Sons (JW.A)
  • Palo Alto Networks (PANW)

____

Tuesday, Sept. 10

  • Casey's General Stores (CASY)
  • Christopher & Banks (CBK)
  • Coldwater Creek (CWTR)
  • HD Supply Holdings (HDS)
  • Lannett Company (LCI)
  • Oxford Industries (OXM)
  • The Pep Boys (PBY)
  • Philips-Van Heusen (PVH)
  • Restoration Hardware (RH)

____

Wednesday, Sept. 11

  • Accretive Health (AH)
  • Tower Group (TWGP)
  • Vera Bradley (VRA)

____

Thursday, Sept. 12

  • Brady Corp. (BRC)
  • Cherokee Inc. (CHKE)
  • Kroger (KR)
  • Lakeland Industries (LAKE)
  • Lululemon Athletica (LULU)
  • Men's Wearhouse (MW)
  • Ulta Salon, Cosmetics & Fragrance (ULTA)
  • United Natural Foods (UNFI)
  • USA Technologies (USAT)

____

Friday, Sept. 13

  • Ocean Power Technologies (OPTT)

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