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May 2017
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Upcoming this week for the stock market…

Upcoming this week for the stock market…

                Common sense be dammed, we are heading higher and higher.  That is what appears to be the word at the street.  Art Catchum says 10,000 very likely, so it must be so.  Considering we are in the middle of earnings season, summer time and low volume, why not.  It’s hard not to be an optimist while floating at the Hamptons.

                This week, we have Verizon and Honeywell on Monday before the bell and tons of less known names after the bell.  On Tuesday we have PB and Coach before the bell and Centex after the bell.  Then, on July 29 there is Conoco Phillips, General Dynamics, Hess and Tazer pre market, while in the afternoon there is AFLC.  Later on the week there will be Aon (a company who actually has increased profit YoY ), DOW Chemicals, Exxon Mobil, Kellogg, Master Card, Motorola, and Sony  on Thursday pre market, McAfee during the market and  Walt Disney and First Solar after market.  On Friday we have Chevron.

                On the economic calendar there are a few important data coming out.  New home sales comes out Monday, consumer confidence and home price index on Tuesday, durable orders, crude inventory and Feds Beige book on Wednesday.   Thursday and Friday are the big days with initial claims on Thursday and GDP Adv and Chicago PMI on Friday.

                On a side note, we had an interesting story this weekend.  Hazem al-Braikan was found dead this weekend.  Apparently, it was a suicide (sure..I doubt it).  Hazen was sued last week by US regulators over bogus takeover bids that resulted millions in profits.  My gut tells me it’s not a suicide simply because little actual details were present on any articles the leads to the suggestion of suicide.

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