Earnings season longchamp sale isn Quite the happenings in the stock market last week with the ongoing greek stalemate, dour economic data, the fed's june fomc statement that seems to keep things status quo through the summer, and the Fitbit(Fit)Ipo that soared even as more companies offered disappointing guidance.Yes, that would be you adobe systems(Adbe), Oracle(Orcl), and Michael Kors(Kors).Put it all together you might think it a little surprising the s 500 closed the week up about 0.8%.Pulling the lens back a bit further, with just seven trading days left in the current quarter, the index is now up some 2.5% year to date.In doing so, however, we also find the index remains firmly in the trading range it's occupied since the first week of april. So what was behind the strong move late last week? We attribute that to the growing notion that despite the language in wednesday's june fomc statement, the investment community is increasingly seeing the first interest rate hike coming late in 2015 or not until 2016.To that we only have to say, we told you so.It's our view that upcoming data will reinforce that view just the way the data received over the last several months first alerted us to growing possibility there would be no midyear rate hike in 2015.Is already experiencing de facto tightening and seeing international revenues affected.When it comes to lingering situations like this.Look for the greek drama to continue on monday as eurozone leaders will convene at a last minute crisis summit as they attempt one more time to close a deal that would bailout greece.Perhaps greece's prime minister alexis tsipras will squeeze the summit into his schedule after his weekend sojourn with vladimir putin in russia. To us it all sounds very much like bugs bunny and yosemite sam in a game of"I dare you to step over this line. "In striving to boil this down, there appear to be two questions, the answers to which will shape the outcome of this summit.How far is the eu willing to bend to what is increasingly becoming bad behavior on the part of the greek government?And will the current greek leadership find some way to compromise as they stand between the rock of their campaign promises and the hard place of eurozone realities?The next 24 hours or so should be rather illuminating. As we noted last week in our collective writings, tweets and posts, there is little doubt given the growing data sets that the domestic economy is chugging along slower this quarter than many, including several federal reserve members, expected.From continued contractions in industrial production and capacity utilization to the drop in may's real average hourly earnings and 11% dip in may housing starts, there is little doubt that gdp expectations at the start of the quarter are unlikely to be met by its close. We recognize that much of the data has been for april and may, and with just under two weeks to go in june, we have yet to get much insight for the month.That's why the inner data junkies in us are excited and a tad apprehensive to get the flash june pmi reports this week from markit economics.While we've gotten a number of regional fedManufacturing index reports thus far, for the data junkies this will be the first real read on juneManufacturing activity for the four horsemen of the global economy.Like always, the headline index figure will be watched, but it will be the underlying data orders, new export orders, backlog and commentary that we will zero in on, and so should you.Manufacturing pmi report for may was the strong dollar, which led to the first back to back reduction in export sales since mid 2013.Where did some of that work go?To the eurozone with countries like spain and italy noting strong orders overall and the positive impact from"Higher new orders from abroad. "It would seem the borrowed page from former fed chairman ben bernanke's playbook is starting to be felt.Manufacturing. Even though we'll be focused primarily on interpolating the flash pmi data to get an updated view on the likely second quarter 2015 gdp print, we'll still be filling in the puzzle with several pieces of may data this week, including new home sales, durable orders and one of our favorites personal income spending.Frankly, we are not expecting a dramatic shift from what's already been reported.Per the labor department last week, gas prices rose 10% in may compared to april, the largest monthly jump in six years.Consumers probably went wide eyed when they saw that.Granted gas prices are still down dramatically year over year, but the consumer tends to look at the recent trend in gas or food prices month over month, not year over year and both of those have been on the upswing of late. (Do you remember what you paid for chicken or a carton of eggs this time last year?Versace sure doesn't, but maybe that's just him? ) Those are the economic reports for which you ought to keep your eyes peeled and your ears open.As we were reminded you last week, just because we are no longer drinking from the earnings fire hose, it doesn't mean there won't be some impactful earnings related news.This week we'll see about nine companies reporting that we'd say are worth paying attention to, but if you're looking for an even shorter list here's the handful to watch even if you don't own them. In the coming weeks we're likely to hear how higher egg and poultry prices, courtesy of the avian flu, will hit restaurant companies and food companies on their margin line.Ahead of that, both sonic(Sonc)And darden restaurants(Dri)Issue their earnings and guidance this week.Let's see what they have to say about that as well as consumer spending and any menu alterations for chicken or price that might be on tap. longchamp le pliage Watch blackberry(Bbry), the beleaguered smartphone vendor(Yes, hawkins, they continue to make smartphones and maybe even an android one).Much like a unicorn, there are rumors of its existence, even though no one has seen one in use for some time.As smartphone penetration continues to get deeper and deeper, margins vs.Market share will be the topic, particularly as samsung looks to regain ground against apple(Aapl).Did industry shipments contract or did blackberry just lose more market share?We'll find out on tuesday. Homebuilders have been using concessions and incentives to move spec inventory, which has been hitting their margins.Are we near the end of that excess inventory or not, and how soon until margins"Normalize"?Also, what's land availability like, after all, no land means no new homes, and how rich are acquisition costs?Lennar(Len)Should have some answers to these questions and that could make all the difference for those eyeing dr horton(Dhi), Toll Brothers(Tol)And others following the standard pacific(Spf)Ryland group(Ryl)Merger news. While there is bound to be some discussion of fifa and its recently announced eight year merchandising and marketing contract with the national basketball association, nike's(Nke)Results will shed light on the appetite for the global consumer and whether the"Athleisure"Trend has legs, and it will offer insight on how the dollar might affect the second half of 2015.It goes without saying that nike's results longchamp uk will be of interest to under armour(Ua)And even Lululemon athletica(Lulu)Shareholders. Finally, versace recently wrote on the pending spin off of barnes noble education from barnes noble(Bks), sharing his view it would be best for investors to shy away from both.Even he admits to rubbernecking at a very bad traffic accident and in his view that's exactly what bks earnings will be this week.Still, it pays to keep an open mind until all the details of the transaction have been released. Below is a more detailed look at the economic data in the week ahead.Enjoy the weekend and be sure to check back for our midweek column, in which we will dish on the first half of the trading week and other key matters and thoughts, as well as how to play it all.
Powered by Facebook Comments