Friday, April 10, 2009

US Stocks: The Week Ahead (April 13-17)

. Friday, April 10, 2009

By stockOzone team

Optimism over Wells Fargo's better than expected profit outlook lifted US stocks this week. Looking ahead to the coming week, investors will once again turn their attention towards the financials as three big US banks are due to report quarterly results.

While Goldman Sachs (NYSE: GS) reports on Tuesday, JPMorganChase (NYSE: JPM) and Citigroup (NYSE: C) are scheduled to report on Thursday and Friday, respectively.

Other heavyweights like Johnson & Johnson (NYSE: JNJ), General Electric (NYSE: GE), Intel (NASDAQ: INTC), Abbott Laboratories (NYSE: ABT) and Google (NASDAQ: GOOG) are also slated to report in the week ahead.

Meanwhile, the US Treasury Department is expected to reveal the results of its so-called "stress test" on major US banks next week. According to Bloomberg, the U.S. Federal Reserve has told Goldman Sachs Group Inc., Citigroup Inc. and other banks to keep mum on the results of “stress tests” that will gauge their ability to weather the recession.

The US data calendar is relatively busy in the week ahead and kicks off with the PPI (March), Retail Sales (March) and Business Inventories (Feb.) on Tuesday. Wednesday has CPI (March), Empire State Manufacturing (April), Industrial Production (March) and Fed's Beige Book. Thursday will see the release of Weekly Initial Claims and Housing Starts (March).University of Michigan/Reuters preliminary Consumer Sentiment index for April will be reported Friday.

Disclosure: Author does not own any of the stocks discussed here.

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