##{"id":61454,"date":"2013-03-08T11:03:33","date_gmt":"2013-03-08T00:03:33","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2013\/03\/08\/next-week-at-a-glance-207\/"},"modified":"2013-03-08T11:03:33","modified_gmt":"2013-03-08T00:03:33","slug":"next-week-at-a-glance-207","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2013\/03\/08\/next-week-at-a-glance-207\/","title":{"rendered":"Next Week At A Glance"},"content":{"rendered":"

\n\tFor a more comprehensive preview of next week's events, please refer to "The Monday Report", published each Monday morning. For all economic data release dates, ex-div dates and times and other relevant information, please refer to the <\/em>FNArena<\/span> Calendar<\/a>.<\/em><\/p>\n

\n\tHistory suggests that when an index hits a new all-time high after a correction, that index will rally 1-2% higher before pulling back again at least to some extent. The Dow is now 1.1% above its previous all-time high.<\/p>\n

\n\tThe Dow is nevertheless not considered by Wall Street to be the predominant indicator but more an historical curiosity. The broad market S&P 500 is the preferred indicator of “the US stock market”, and it still has 21 points or 1.3% to rally to surpass its equivalent all-time high. And those who rely solely on history are destined to fall victim to it.<\/p>\n

\n\tThe rally from November to today on Wall Street has been dubbed the “reluctant rally”, given everyone knows a pullback has to come but no one’s game enough not to be long (with protection). Tonight might offer up a pullback trigger – a possibly weaker than enthusiastically expected US jobs number – but then dip-buyers are queued up down Broad Street*.<\/p>\n

\n\tNext week’s US data releases include retail sales, industrial production, inflation numbers, and the Empire State manufacturing index.<\/p>\n

\n\tTomorrow China will provide a monthly data dump of inflation, retail sales, industrial production and fixed asset investment numbers in the wake of today’s trade balance release. This week’s PMI data out of China was a little disconcerting, albeit Bridge Street doesn’t seem fazed. It’s all about New Year holiday distortions.<\/p>\n

\n\tAustralia will see the NAB business and Westpac consumer confidence numbers next week along with housing finance and investment lending data and the unemployment numbers for February.<\/p>\n

\n\tFriday will see a rather extensive rebalancing of ASX<\/span> indices and ETF<\/span> constituents which will impact various stocks both up and down. See Extensive ASX<\/span> Rebalance<\/span><\/a>.<\/p>\n

\n\tThe RBNZ<\/span> will make a rate decision on Thursday.<\/p>\n

\n\tAmericans will put their clocks forward on Sunday which means on Tuesday morning the NYSE will close at 7am<\/span> Sydney time instead of 8am<\/span> as it has done throughout our summer. <\/p>\n

\n\t*The famous flag-wrapped pillars of the NYSE are actually on Broad Street, not Wall Street.
\n\t <\/p>\n

\n\tFind out why FNArena<\/span> subscribers like the service so much: "Your Feedback (Thank You)<\/a>" – Warning this story contains unashamedly positive feedback on the service provided.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"