Next Week At A Glance

This story features ENERGY RESOURCES OF AUSTRALIA LIMITED, and other companies. For more info SHARE ANALYSIS: ERA

By Greg Peel

With nothing of major significance to be released tonight, attention finally turns to the US first quarter reporting season which begins on Monday, traditionally, with the report from Dow component Alcoa. While plenty has occurred this week, including a bogged down Libya, Portugal's bail-out request, a split in Fed ranks, a stalemate on Capitol Hill, and last night's Japanese aftershock, Wall Street has been steady but quiet as it awaits earnings season as the next driver of market direction. Hopes are high.

Typically there is a gap in major reports from Alcoa into the next week when the large investment banks (sorry, commercial banks) provide their results.

On the US economic front, inflation has been talked about persistently by Fed members over the past two weeks and next week sees the monthly inflation data released, with the PPI on Thursday and the CPI on Friday. Prior to that, releases include the trade balance and monthly budget – the latter interesting under the current stalemate circumstances – business inventories, retail sales, and the Fed's Beige Book. Friday also brings industrial production, the Empire State manufacturing index and the fortnightly consumer sentiment measure.

The US Treasury will auction US$66bn of three-year and ten-year notes and thirty-year bonds next week at a time when Treasury rates have been rising on inflation talk and QE speculation.

It's a quiet week for Australia, featuring the NAB business survey and Westpac consumer survey.

Inflation will also be in the frame in China, post the recent rate hike, as its round of monthly data is released on Friday. Figures include the PPI, CPI, industrial production and retail sales.

On the local stock front, ERA ((ERA)) will provide the AGM of interest, Bank of Queensland ((BOQ)) will report its interim result, and we'll move into the start of the quarterly resource sector production reports with ERA, Rio Tinto ((RIO)), Coal & Allied ((CNA)) and OZ Minerals ((OZL)) all reporting.

For a more comprehensive preview of next week's events, please refer to "The Monday Report", published each Monday morning. For all economic data release dates, ex-div dates and times and other relevant information, please refer to the FNArena Calendar.

Click to view our Glossary of Financial Terms