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This week is over and the weekend is here.  But before you find your mouth under the tap let’s take a look at what’s on tap for next week.  The economic calendar is relatively busy next week while the earnings calendar is light.  A few key names report, however, including FedEx and Best Buy.  Both are certain to be market movers.  I will be particularly interested to hear what FedEx says about the economy.  If the transports are any indication we’ll likely hear more of the same – moderating declines, but no certainty of a recovery.   As I mentioned earlier the economic calendar is heavy:

  • Monday: Empire State manufacturing , NAHB housing
  • Tuesday: May housing starts, May PPI, industrial production and capacity utilization
  • Wednesday: May CPI
  • Thursday: May Leading Indicators, Phili Fed survey, weekly initial jobless claims

Bernanke speaks on Wednesday Morning and Friday is a quadruple witching day which always makes for an interesting week.  Although I believe we are in the midst of a near-term topping process we could see some strength in stocks as window dressing and seasonal strength in oil continues into the end of month.

And lastly, from Reuters: 5 themes for next week.

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