On Tap Today: Wall Street's Attention Riveted on CPI, Earnings
Wall Street plays the waiting game before the opening bell, in anticipation of the Consumer Price Index ( definition | chart | source ). The numbers, which are expected at 8:30 a.m. EDT, will provide the latest clues to whether or not the Fed is through raising interest rates.
Once out of the gate, stocks will get plenty of investor attention as a torrent of earnings announcements flood the marketplace. Technology heavyweights
Intel
(INTC) - Get Intel Corporation Report
and
Microsoft
(MSFT) - Get Microsoft Corporation Report
issue results today. The market today will likely follow their lead.
Also reporting today are
Compuware
(CPWR)
, which raised a red flag about its second-quarter profits just two weeks ago, and chipmaker
Broadcom
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, which last month joined the
S&P 500
TheStreet Recommends
ranks.
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.:
Consumer Price Index for June. Source:
Labor Department. Forecast: +0.4%. Previous: +0.1%. Includes Ex-food and energy. Forecast: +0.2%. Previous: +0.2%.
8:30 a.m.:
Real earnings for June. Source:
Labor Department . Forecast: N/A. Previous: -0.3%.
9 a.m.:
BTM Weekly U.S. Retail Chain Store Sales Index for the week ended Saturday. Source: Schroder. Forecast: N/A. Previous: +0.3%.
9 a.m.:
Redbook retail average for the month through Saturday, vs. June. Source: LJR Redbook. Forecast: N/A. Previous: +1.4%.
IPO Quiet Periods Expiring
(TheStreet.com's
Ben Holmes, who heads
TSC's
ipoPros.com subsidiary, keeps a close eye on quiet-period expirations every week. For more on quiet periods and why they matter, check out Holmes' primer on the subject. The full current quiet-period expirations list is published separately.
)
Quiet Period End | Deal Name | Symbol | Lead Underwriter |
7/18/00 | Accelerated Networks | (ACCL:Nasdaq) | Credit Suisse First Boston |
7/18/00 | Charles River Laboratories Holdings | (CRL:NYSE) | Donaldson Lufkin & Jenrette |
7/18/00 | Manufacturers Services | (MSV:NYSE) | Donaldson Lufkin & Jenrette |
7/18/00 | Qualstar | (QBAK:Nasdaq) | First Security Van Kasper |
