There are several known events this week that will be shaping the market. They include key economic reports, an OPEC meeting, and a quarterly quadruple options expiration on Friday.
Economic Calendar
Here are the key economic announcements you can expect this week (for more information, click on the individual indicators):
- Tuesday 9/14 - Retail Sales
Best guess: Total retail sales – flat; Retail sales without auto – 0.3% according to Briefing.com.
- Wednesday 9/15 – Business Inventories, Industrial Production, Capacity Utilization
These three indicators of manufacturing strength will probably show this sector is still struggling, but gaining strength. Industrial capacity is not near the point where price pressure becomes a problem and neither should slowdowns or bottlenecks in production cause problems down line.
- Thursday 9/16 – Consumer Price Index
The CPI important indicator of inflation is expected to show no worries about either inflation or deflation. Annual rate of around 2.4% remains nears historic lows.
OPEC
Wednesday 9/15 The oil-producing cartel meets to discuss supply (which means price) in light of recent record highs and periodic disruptions of Iraqi pipelines.
Options Expirations
Friday 9/17 A quadruple expiration of stock index futures and options along with individual stock futures and options should make for lively trading on the issues involved as investors either close out positions or roll them forward.
