Big Dow Earnings Week: Market Happenings For Monday, October 15, 2012

Premarket, futures are up. Gainers this morning include HRB (+9.16%), C, PBI, TXN and ISRG while losers include IPG (-7.46%), HAS, CNX, CF and HRS.

The Market

After the -2.1% haircut last week, hopefully we can make a gain this week.

We have a China National Bureau of Statistics report today showing that inflation in China slowed in September. Chinese consumers paid 1.9% more for goods in September than they did a year earlier. That’s down from a 2% increase in August.

Asian markets ended mixed and European markets are up in morning trade.

Retail sales popped 1.1% in September, boosted by higher gas prices and electronic sales. That’s higher than the 0.7% rise expected by analysts.

The Federal Reserve Bank of New York’s monthly Empire State Manufacturing Index remained in negative territory in October, but improved to a reading of -6.2 compared to a reading of -10.4 in September.

The national average price of gasoline is down seven-tenths of a cent to $3.787 per gallon.

There are 12 Dow components reporting earnings this week. See the previous post for a full list.

Earnings Reports

Earnings reports (estimates): C-Citigroup ($0.97), SCHW-Schwab (0.17), BCI-Gannett (0.53), BRO-Brown & Brown (0.35), PKG-Packaging Corp (0.56), VMI-Valmont Industries (2.05), ICUI-ICU Medical (0.68).

Financial Calendar

0800 ET NY Fed President Dudley speaks to NABE in NY.

0830 ET Oct Empire manufacturing index expected +6.41 to -4.00, Sep -4.56 to -10.41.

0830 ET Sep retail sales expected +0.8% m/m, Aug +0.9% m/m. Sep retail sales ex-autos expected +0.6% m/m, Aug +0.8% m/m.

0830 ET NOPA Sep soybean crush report.

1000 ET Aug business inventories expected +0.5% m/m, July +0.8% m/m.

1100 ET USDA weekly grain export inspections.

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

1245 ET Richmond Fed President Jeffery Lacker speaks on U.S. economy in Virginia.

1310 ET St. Louis Fed President James Bullard speaks on U.S. economy in St. Louis, MO.

1600 ET USDA Crop Progress.

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