Current Events: For the second straight week the U.S. markets finished the week strong. Friday's massive surge was enough to reverse a minor down-trending week with the release of somewhat favorable economic data on the health of the job market.
What to Look for This Week
While only a few blue chips are scheduled to announce this week, earnings are likely to take center stage as few economic reports are to be released this week. Household favorites such as Walt Disney and MGM are scheduled to report this week, along with popular retail giants J C Penny's, Macy's and Nordstrom.
News Affecting the Markets
On Monday, the U.S. stock markets (including the Dow Jones, Nasdaq, and S&P 500) successfully closed at their highest point in three months. This is in large part due to better-than-anticipated corporate earnings and a recent diminishing concern about Europe’s debt troubles.
Most Common Way Your 401k Leaks Money: Picking the right funds for your retirement account is vital, but so is understanding how to take full advantage of your savings. Make sure to avoid the common costly mistakes to ensure your 401k stays healthy and prosperous. For starters, pay attention to detail. Awareness of the fees and logistics of your 401k or IRA plan can be just as important as picking the right places to put your money. Investors who don't read the fine print or perform regular portfolio maintenance can see their retirement accounts suffer, even if they have the right funds picked out. The most obvious charges that 401k investors have to endure are the "expense ratios" of their mutual funds. You might have seen these on your portfolio documents and just shrugged them off. After all, what's the big deal about a 1% fee? However, little fees add up fast. In real terms, that 1% fee gets shaved off your 401k account each year. In 30 years, those small fees can end up costing you hundreds of thousands of dollars. Thus, be cognoscente of the health of your 401k, it will greatly benefit you in the long run.
Earnings for the Week
Monday: AES Corp (AES), Boston Properties Inc (BXP) {After the close}, Brookdale Senior Living Inc (BKD) {After the close}, CF Industries Holdings Inc (CF) {After the close}, Chesapeake Energy Corp (CHK) {After the close}, Cinemark Holdings Inc (CNK), Concho Resources Inc (CXO) {After the close}, Dillard's Inc (DDS), Goodrich Petroleum Corp (GDP) {After the close}, HCA Holdings Inc (HCA), Health Care REIT Inc (HCN), Manitowoc Co Inc (MTW) {After the close}, McDermott International Inc (MDR) {After the close}, Mindray Medical International Ltd (MR) {After the close}, Rosetta Genomics Ltd (ROSG), Strategic Hotels and Resorts Inc (BEE) {After the close}, Titanium Metals Corp (TIE), Tyson Foods Inc (TSN), Vornado Realty Trust (VNO) {After the close}, WMS Industries Inc (WMS) {After the close}
Tuesday: AECOM Technology Corp (ACM), Cablevision Systems Corp (CVC), Coeur d'Alene Mines Corp (CDE), CVS Caremark Corp (CVS), Emerson Electric Co (EMR), Energy Transfer Partners LP (ETP) {After the close}, Firstenergy Corp (FE), Fossil Inc (FOSL), Hecla Mining Co (HL), Marsh & McLennan Companies Inc (MMC), MGM Resorts International (MGM), Office Depot Inc (ODP), Pepco Holdings Inc (POM), PG&E Corp (PCG), Quicksilver Resources Inc (KWK), Rackspace Hosting Inc (RAX) {After the close}, Rosetta Resources Inc (ROSE) {After the close}, Sirius XM Radio Inc (SIRI), Sotheby's (BID), Tenet Healthcare Corp (THC), Walt Disney Co (DIS) {After the close}, XL Group PLC (XL) Zillow Inc (Z)
Wednesday: Accretive Health Inc (AH), Alpha Natural Resources Inc (ANR), Avnet Inc (AVT), BrightPoint Inc (CELL) {After the close}, CenturyLink Inc (CTL) {After the close}, Cincinnati Bell Inc (CBB), Computer Sciences Corp (CSC), Continental Resources Inc (CLR) {After the close}, Corrections Corp Of America (CXW) {After the close}, Dean Foods Co (DF), Macy's Inc (M), MBIA Inc (MBI) {After the close}, Medicis Pharmaceutical Corp (MRX), NRG Energy Inc (NRG), PPL Corp (PPL), Ralph Lauren Corp (RL), Stillwater Mining Co (SWC), SunPower Corp (SPWR) {After the close}
Thursday: Advance Auto Parts Inc (AAP), Assured Guaranty Ltd (AGO) {After the close}, Brinker International Inc (EAT), CareFusion Corp (CFN) {After the close}, DeVry Inc (DV) {After the close}, Emulex Corp (ELX) {After the close}, GenOn Energy Inc (GEN), Kohl's Corp (KSS), Kronos Worldwide Inc (KRO), Magnum Hunter Resources Corp (MHR), Medical Properties Trust Inc (MPW), Nordstrom Inc (JWN) {After the close}, Northern Oil and Gas Inc (NOG), NVIDIA Corp (NVDA) {After the close}, The Wendy's Co (WEN), Windstream Corp (WIN)
Friday: Energy Transfer Equity LP (ETE), Harman International Industries Inc (HAR), J C Penney Company Inc (JCP), VirnetX Holding Corp (VHC)
* Earnings dates and times are subject to change
Economic Data this Week
Monday
No announcements scheduled.
No announcements scheduled.
Tuesday
Consumer Credit @ 3:00 PM for June (Est. = $10.0B, Prior = $17.1B)
Wednesday
MBA Mortgage Index @ 7:00 AM for 08/04 (Est. = n/a, Prior = 0.2%)
Crude Oil Inventories @ 10:30 AM for 08/04 (Est. = n/a, Prior = -6.522M)
Thursday
Initial Claims @ 8:30 AM for 08/04 (Est. = 375K to 385K, Prior = 365K)
Continuing Claims @ 8:30 AM for 07/28 (Est. = 3290K to 3300K, Prior = 3272K)
Trade Balance @ 8:30 AM for June (Est. = -$47.5B to -$48.0B, Prior = -$48.7B)
Wholesale Inventories @ 10:00 AM for June (Est. = 0.3% to 0.6%, Prior = 0.3%)
Friday
Treasury Budget @ 2:00 PM for July (Est. = n/a, Prior = -$129.4B)
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