On Tap Today: What Else? Earnings Rule the Day as AMD, IBM Report
Investors took yesterday's news -- strong earnings announcements and an increase in the June Consumer Price Index ( definition | chart | source ) -- and started selling. All told, they sent the Nasdaq Composite down the river by 2.3% and the Dow Jones Industrial Average lower by 0.6%.
Today, Wall Street gears up for another round of releases hoping that they'll recharge the market. Technology names scheduled to report include chipmaker
Advanced Micro Devices
(AMD) - Get Report
. The semiconductor industry got slammed yesterday, with the
Philadelphia Stock Exchange Semiconductor Index
ending the day behind almost 5%.
After the closing bell, hardware giant
IBM
(IBM) - Get Report
reports. In the wake of
Computer Associates'
(CA) - Get Report
and
BMC Software's
(BMCS)
profit warnings, Wall Street does not have high hopes for IBM's second quarter. For more on the company's earnings, check out
TheStreet.com's
story.
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.
)
- 7 a.m.:
Mortgage Applications Survey for the week ended Friday. Source:
Mortgage Bankers Association. Forecast: N/A. Previous: 284.3. Purchase Index also included. Forecast: N/A. Previous: 303.0
8:30 a.m.:
International trade for May. Source:
Commerce Department. Forecast: $30.07B. Previous: -30.44B.
9 a.m.: Treasury buyback announcement. Source:
Bureau of the Public Debt. The Treasury announced the size of its next monthly two-year note auction, next Wednesday.
1 p.m.:
Housing Market Index for July. Source:
National Association of Home Builders. Forecast: N/A. Previous: 58.
2:30 p.m.: Treasury auction announcement. Source:
Bureau of the Public Debt. The Treasury announces the size of its next monthly two-year note auction, next Wednesday.
6:30 p.m.:
Consumer Comfort Index for the week ended Saturday. Source:
Money Magazine and
ABC News. Forecast: N/A. Previous: 26.
