As the market absorbs the Fed's latest cut in interest rates, a fresh batch of earnings hits the Street today. Among those reporting are breakfast staple Quaker Oats (OAT) , consumer product maker Colgate-Palmolive (CL) - Get Colgate-Palmolive Company Report, mobile phone maker Sprint PCS (PCS) and sneaker giant Reebok (RBK) .
Ahead of earnings, Sprint PCS announced yesterday that it will enter into a deal with
, which will provide various travel tools to customers owning Internet-ready mobile telephones.
Shares of Sprint PCS traded down 4.98% to $30.50 at yesterday's close.
On the economic front, the
Purchasing Managers Index takes center stage. This indicator remains the most significant manufacturing measure and should have a deep impact on today's trading session.
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.
Forecasts are from
. Times are Eastern. For a longer-term economic calendar and more, see
- 8:30 a.m.:
Initial Jobless Claims for the week ended Jan. 27. Source:
Labor Department. Forecast: 331,000. Previous: 316,000.
Four-week average: Forecast: n.a. Previous: 336,000.
Personal Income for December. Source:
Commerce Department. Forecast: +0.2%. Previous: +0.4%.
Consumption: Forecast: +0.2% Previous: +0.3%.
Construction Spending for November. Source:
Census Bureau. Forecast: -0.4%. Previous: -0.6%.
Purchasing Managers Index for January. Source:
National Association of Purchasing Management . Forecast: 43.6. Previous: 43.7.
FOMC meeting minutes.
Federal Reserve. The Fed releases the minutes of its monetary policymaking committee's Dec. 19 meeting.
IPO Lockups Expiring
Michael Falbo, who writes for
ipoPros.com subsidiary, keeps a close eye on lockup expirations every week. For more on lockup expirations and why they matter, check out Holmes' primer on the subject. The full current lockup expiration list is published separately. For information on IPO pricings, filings and aftermarket activity, plus a calendar of upcoming IPOs, check out
IPO data section.
Donaldson Luftkin & Jenrette