On Tap Today: J.C. Penney, Liz Claiborne Slated to Report
Today investors will hope for better economic news than they got yesterday, when a potentially inflationary
CPI report sent markets on a downward slide: The Dow lost more than 200 points yesterday, while the Nasdaq closed at its lowest point since March 3, 1999.
Headlining today's economic data is the
initial jobless claims report, slated for release before the opening bell. The report provides a snapshot of labor market conditions and could affect today's trading session.
On the earnings front, struggling retail giant
J.C. Penney
(JCP) - Get J. C. Penney Company, Inc. Report
and women's apparel maker
Liz Claiborne
(LIZ)
report their fourth-quarter earnings today.
TheStreet Recommends
According to a 10-analyst consensus, J.C. Penney is expected to post a fourth-quarter loss of 5 cents a share.
Shares of J.C. Penney traded down 8.1% to finish at $13.65 and Liz Claiborne was down 1.6% to $46.88.
Expected Earnings Reports
This table includes S&P 500 companies only. Dates are as expected according to First Call/Thomson Financial, and may change. The full week's earnings calendar is published separately.
Economic Data
(
Forecasts are from
Reuters
. Times are Eastern. For a longer-term economic calendar and more, see
TSC's
Economic Databank.
)
- 8:30 a.m.:
Initial jobless claims for the week ended Feb. 17. Source:
Labor Department. Forecast: 355,000. Previous: 352,000.
Four-week average: Forecast: n.a. Previous: 345,000.
10 a.m.:
Leading economic indicators for January. Source:
Conference Board. Forecast: +0.3%. Previous: -0.6%.
10 a.m.:
Help-Wanted Index for January. Source:
Conference Board. Forecast: n.a.. Previous: 79.
11 a.m.:
Treasury buyback Source:
Treasury Department. The Treasury buys securities specified yesterday from dealers.
