by Jared Levy on June 21, 2010
Any successful trader or business man (woman), knows that planning ahead and preparing for upcoming events and potential threats to your investments is key to preventing catastrophe. The first thing every investor needs to do is to maintain a general awareness of upcoming events that are already announced. In a world full of uncertainty, at least we get to know a little bit about the future. First off, major economic data coming up this week includes:
- Existing home sales Tuesday (Expectations for 6.23 million)
- New Home Sales, FOMC statement and rate decision Wednesday (Expectations for 435k homes and minimal verbiage change from the FED with no move in interest rates, respectively.)
- Core Durable Goods and Unemployment claims out Thursday (Expectations for a 1.1% rise in durable goods orders and 461,000 in weekly initial unemployment claims.)
- Friday brings the final reading on quarterly GDP as well as the University of Michigan’s consumer sentiments revisions. Both numbers are expected to be unrevised from their last readings.
As I mentioned early last week, earnings season is upon us, but will not be coming full force until the second week of July. I also mentioned early Friday that expiration Friday (quadruple witching) has really been a non-event as of late. This was confirmed by the modest bullish moves we saw on Friday.