Waiting On Central Banks: Market Happenings for Monday, July 30, 2012

Premarket, futures are mixed as investors look for news from Euro and U.S. central banks. Gainers this morning include JEC (-5.45%), FTR, S, ROP and ANR while losers include LUV (-6.63%) , ORLY, FSLR, LSI and PHM.

The Market

Investors are hoping for the U.S. Federal Reserve and the European Central Bank to announce new measures to boost the economy when they meet later this week. The Fed’s two-day meeting culminates in an announcement on monetary policy Wednesday.

The European Central Bank’s Governing Council are meeting in Frankfurt on Thursday. Remember now, last week ECB president Mario Draghi said the central bank would do “whatever it takes” to preserve the euro. So now investors want to see if he’ll put those words into action.

U.S. Treasury Secretary Timothy Geithner is scheduled to meet with German finance minister Wolfgang Schaeuble and Draghi today but no press statement is expected.

The national average price of gasoline is up one-tenth of a cent to $3.486 per gallon.

PFE reports earnings 7/31/2012 before the market open.

KFT reports earnings 8/2/2012 after the market close.

PG reports earnings 8/3/2012 before the market open.

DIS reports earnings on 8/7/2012 after the market close.

HD reports earnings 8/14/2012 before the market open.

CSCO reports earnings 8/15/2012 after the market close.

HPQ reports earnings on 8/22/2012 after the market close.

Earnings Reports

Earnings reports: APC-Anadarko Petroleum (Consensus $0.77), SCCO-Southern Copper (0.61), BEN-Franklin Res (2.05), L-Lowes (0.76), STX-Seagate (2.43), VRTX-Vertex Pharm (0.69), FISV-Fiserv (1.26), ROP-Roper Industries (1.15), EEP-Enbridge Energy (0.30), CNA-CNA Financial (0.56), EMN-Eastman Chemical (1.30), CIT-CIT Group (-0.53), UDR-UDR Corp (-0.08), PCL-Plum Creek Timber (0.18), FLS-Flowserve (1.91), HLF-Herbalife (0.96).

Financial Calendar

1030 ET July Dallas Fed manufacturing activity index expected 2.0, June 5.8.

1100 ET USDA weekly grain export inspections.

1130 ET Weekly 3-mo and 6-mo T-bill auctions.

1600 ET USDA Crop Progress.

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