Ford (F) CUTTING PRODUCTION, NOTES THAT PLANT CLOSURES AND LAYOFFS COULD FOLLOW DUE TO HIGH GAS PRICES
- Co has announced significant production cuts as a result of rising gas prices and a re-examination of its production strategy.

 

 

Tuesday

8:15am: Fed’s Kroszner speaks in Brazil on banking risks

8:55am: Redbook Retail Sales

9:00am: March S&P/CS Home Price Index (last 175.9), March S&P/CS Composite-20 y/y (last –12.7%), Q1 S&P/CS Housing Price Index (last 170.6, y/y –8.9%)

10:00am: May Consumer Confidence (last 62.3),

10:00am: May Richmond Fed Manufacturing Index (last 0),

10:00am: April New Home Sales (last 526K, m/m –8.5%)

11:50am: Fed’s Fisher speaks in San Francisco on the economy

Earnings:

Before the Open: DCI, GMTN, SGK, GASS, VOD.

After the Close: BGP, DCI, INET, JMBA, SNDA, SHRP, LNUX.

 

Wednesday

7:00am: MBA Mortgage Applications

8:30am: April Durable Goods Orders (last –0.3%, ex-transport 0.9%)

12:50pm: Fed’s Stern speaks on the Economy

1:00pm: Treasury’s Two-Year Note Auction

9:00pm: Fed’s Fisher speaks on inflation and debt in San Francisco

Earnings:

Before the Open: AEO, CBRL, CHS, DAKT, DLTR, RL, ROLL, SHMR, BRLC.

After the Close: AFCE, APSG, CWTR, DBRN, DCP, JAS, MW, MYL, TIVO.

 

Thursday

8:30am: Preliminary Q1 Annualized GDP q/q (last 0.6%), Q1 Personal Consumption (last 1.0%), Q1 GDP Price Index (last 2.6%), Q1 Core PCE q/q (last 2.2%),

8:30am: Initial Jobless Claims (last 365K), Continuing Jobless Claims (last 3.073M)

9:00am: Fed’s Geithner gives opening remarks on money markets at New York conference

10:00am: April Help Wanted Index (last 19)

10:30am: Crude Oil/Gasoline/Distillate Inventories, Natural Gas Inventories

1:00pm: Treasury’s Five-Year Note Auction

2:30pm: Ben Bernanke speaks on Fed liquidity provisions

6:15pm: Fed’s Kohn speaks about money markets at NEw York Fed

Earnings:

Before the Open: AGYS, ANST, BIG, COST, FRED, GCO, HNZ, JOYG, MESA, MNRO, MOV, NM, NZ, PDC, RSTO, SHLD, SCVL, SCMR, TSL, WSM.

After the Close: JRJC, DLIA, DELL, ESL, FRPT, HEI, IUSA, JCG, MRVL, NINE, NOVL, OVTI, NX, PAY, WTSLA, WIND.

 

Friday

8:30am: April Personal Income (last 0.3%), April Personal Spending (last 0.4%), April PCE Deflator y/y (last 3.2%), April PCE Core (last m/m 0.2%, y/y 2.1%)

9:45am: May Chicago Purchasing Manager (last 48.3)

10:00am: May Final U. of Michigan Confidence (last 59.5),

10:00am: May NAPM-Milwaukee (last 48)

11:45am: Former FOMC Alan Greenspan speaks in Montreal on economy and markets

12:30pm: Fed’s Rosengren speaks on economic outlook

Earnings:

Before the Open: KIRK, TIF.

After the Close: CAO, LGF.