Weekly Reports | Feb 21 2014
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.
By Greg Peel
While next week does not fully complete the Australian earnings season, the end of February is the unofficial cut-off. There will be a handful of stragglers thereafter to report as well as a few hundred penny dreadful miners, and then the odd company with off-month accounting years. But suffice to say, there is another avalanche of results next week and then after Friday it’s all over.
There are far too many companies reporting to list highlights, so please refer to the FNArena Calendar.
At the end of the day Wall Street is very pleased at the end of its own long quarterly results season, and particularly chuffed with positive forward earnings guidance. The focus is now on economic data and on barometric pressure, and next week sees a wealth of economic US releases which may or may not be susceptible to weather excuses.
Next week sees the Chicago Fed national activity index, the Case-Shiller and FHFA house price indices, the Richmond Fed manufacturing index, consumer confidence, new home sales, pending home sales, durable goods, the Chicago PMI and the first revision of the December quarter GDP result.
The UK will also revise its GDP, while Japan will provide a data-dump at the end of the weak of inflation, industrial production, retail sales and unemployment numbers.
Australia will also count down to its own GDP result, due the following week. This week we’ll see December quarter numbers for capex and construction work done, as well as monthly credit data.
Individual corporate results will continue to dominate sentiment nevertheless, and to date the scorecard is looking pretty reasonable. Note that as I write, the ASX 200 has hit a new post-GFC high.
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