Week Ahead Market Report: March 15, 2010
Monday, March 15, 10:19 AM ET

Hello, I’m Kristin Bianco, with the “Week Ahead Market Report” for March 15, 2010.

In overseas equity markets this morning, Japan’s Nikkei 225 index rose 0.1 percent today while China’s Shanghai Shenzen index was lower by 1.5 percent. Hong Kong’s Hang Seng dropped 0.6 percent.

The German DAX and Britain’s Footsie 100 were flat on Monday morning.

U.S. S&P index futures are down slightly in Monday’s pre-market action.

Oil futures were trading at around $80.50 a barrel this morning, and gold futures were marginally higher near $1,105 an ounce.

It will be a busy week on the economic front, as economists will be keying in on housing starts on Tuesday. The numbers are expected to have dipped in February, falling to an annual rate of 587,000, down from 591,000 in January. Building permits are also expected to have declined from an annual rate of 622,000 in January to 614,000 in February.

On Wednesday, the Producer Price Index will be released and is expected to have declined by 0.1 percent in February. This would be a major change in trend with January’s PPI coming in at a positive 1.4 percent level.

On Thursday, the Consumer Price Index is expected to have risen 0.1 percent in February, compared to a 0.2 percent increase in January.

U.S. lawmakers, including Senators Charles Schumer and Charles Grassley, are proposing that tariffs be imposed on China to compensate for the unfair export advantage they say comes from an undervalued currency.

In earlier remarks, China’s leaders suggested the United States “take concrete steps to reassure investors” about the strength of the U.S. dollar, reiterating concerns expressed a year ago.

Premier Wen Jiabao indicates he may take steps to restrain China’s expansion amid fears of inflation. Economists are also expecting India will raise interest rates. Inflation in both countries recently spiked to a 16-month high.

Earnings season is almost over with only about 100 companies reporting, including 5 S&P 500 members.

Nike (NYSE:NKE) will report profits on Tuesday with expectations of 88 cents per share.

Gamestop (NYSE:GME) is expected to report on Wednesday with consensus estimates of $1.28 per share.

On Thursday, FedEx (NYSE:FDX) is scheduled to release earnings for the fourth quarter. Analysts are expecting 72 cents per share in profits.

Palm (PALM) will also report on Thursday with expectations of a loss of 42 cents per share.

Ross Stores (NYSE:RST) is expected to report profits per share of $1.16 on Thursday.

Eldorado Gold (NYSE:EGO) will report on Friday with expectations of 10 cents per share.

Join us on Friday for the “Weekly Market Wrap” and have a wonderful week.