Week Ahead Market Report: August 16, 2010
Monday, August 16, 12:55 PM ET

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Good morning, I’m KRISTIN BIANCO, with the “Week Ahead Market Report” for August 16, 2010.

Markets are mixed around the world today. Hong Kong’s Hang Seng index edged higher by 0.2 percent. Japan’s Nikkei 225 dropped 0.6 percent and China’s Shanghai Shenzen jumped 2.3 percent.

European shares were off this morning, with the German DAX down 0.3 percent. Britain’s Footsie 100 surged 0.4 percent in mid-day trading.

U.S. S&P 500 index futures were off 0.4 percent in pre-market action.

Crude oil is flat on Monday morning, trading around $75 a barrel.

Spot gold was up 0.9 percent on Monday morning trading, hovering around $1,226 an ounce.

On the economic front, the housing starts numbers for July will roll in on Tuesday, with new housing construction expected to come in at a 565,000 annual rate.

Also on Tuesday, the Obama Administration is planning a conference on the U.S. housing finance system. Down the street, lawmakers will be debating what to do with Fannie Mae and Freddie Mac.

Industrial production numbers for July will be released on Tuesday with expectations for a 0.6 percent change.

On Thursday, initial jobless claims will be released with expectations for 480,000 new unemployment claims for the week of August 14th.

On the earnings front, do-it-yourself retailer Lowes’s (NYSE:LOW) said on Monday morning its second quarter earnings were 58 cents per share. Analysts were expecting 59 cents.

Wal-Mart (NYSE:WMT) will post second quarter profits on Tuesday before the market opens, with a consensus estimate of 97 cents per share.

Home Depot (NYSE:HD) will also report results on Tuesday before the market opens. Analysts are expecting 71 cents per share in earnings.

Department store Target (NYSE:TGT) will report before the market opens on Wednesday, with analysts expecting 28 cents earnings per share.

Also on Wednesday morning, equipment manufacturer Deere & Company (NYSE:DE) will report profits, with a consensus estimate of $1.22 earnings per share.

Ross Stores (NASDAQ:ROST) will report earnings on Thursday before the market opens with expectations of $1.06 per share.

Also on Thursday, Dell (NASDAQ:DELL) will report second quarter earnings after the market closes. Analysts are expecting 30 cents per share.

Hewlett Packard (NYSE:HPQ) will report earnings on Thursday after the market closes, with expectations of $1.08 per share.

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