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Sunday Briefing on February 28

A busy week: new economic data, a health care summit, Greece is still in trouble, and Toyota responds to auto concerns. Here is a recap of last week, and what to expect for next week.

Market moving events next week:

Monday Mar 1: Personal Income and Outlays, ISM Manufacturing Index, and Construction Spending reports released. Dillard’s, HSBC Holdings, MBIA, Petroleos Mexicanos, and Vivendi release earnings.
Tuesday Mar 2: Motor Vehicle Sales report released. D-Link Corp, Dominos Pizza, Macquarie Power and Infrastructure, and Staples release earnings.
Wednesday Mar 3: Adecco, Adidas, Alliance HealthCare Services, Costco, Foot Locker, Petsmart, Qatar Real Estate Investment, Royal Bank of Canada, and Standard Chartered release earnings.
Thursday Mar 4: Jobless Claims, and Productivity and Costs reports released. Del Monte Foods, TD Banknorth, Toronto Dominion Bank, and Urban Outfitters release earnings.
Friday Mar 5: Employment Situation report released. Blount International, and Marshalls release earnings.

Analysis

This week has less global macro events than last week, although there are a number of high-profile earnings releases this week. Also be sure to watch the Employment Situation report on Friday.

Recapping last week

Sovereign wealth situation: The Greek crisis continues.

More confusion from Greece

Protests against Greek cuts

Harvard economist sees sovereign defaults

Global macro: Mixed bag of economic data. GDP report was good, but consumer confidence and new home sales were weak.

GDP growth revised up to 5.9%

Consumer confidence falls to 10-month low

New home sales drop

Other important stories

Proposed US health care reform bill may not pass, according to House majority leader

Israeli Air Force unveils new “super drone”

Turkish court formally charges 7 military officers in alleged coup plot

EU, US back ‘Sledgehammer’ investigation for Turkey’s democracy

Japan supports Toyoda’s tearful response

Head of IMF proposes new reserve currency

Hamas founder’s son worked with Israeli intelligence for years

A massive earthquake has hit Chile

Must-read commentary from last week

Two ways to go: A Greek columnist calls for reform.

Europe’s Bear Problem: The Economist magazine analyzes the problems facing the EU and its relations with Russia.

Current market stats

TED Spread: 0.1249
3-month Libor: 0.2517

S&P 500: 1,104.49
FTSE 100: 5,354.52
Nikkei 225: 10,126.03
Hang Seng: 20,608.70

Oil: 79.66
Gold: 1,118.30

Euro/US Dollar: 1.3625

1-Year CD: 1.26%
30-Year Fixed Mortgage: 5.09%
Business Credit Cards: 11.32%

Best attempts at accuracy were made at 12:30 PM Pacific Standard Time on Sunday, February 28. These stats are for informational and educational purposes only, and no liability is assumed for inaccurate information.

-Alex Cook



Disclosure: None