wall street in advance

February 2018 Economic Statistics
and Other Economic Influences

                Weekly Chain Store Sales*
                 Average Hourly Earnings*
                 API Weekly Gas/Oil Stockpiles Report*  **
Mortgage Applications  Data
                 EIA Weekly Report on Gas & Oil Stockpiles* (10a.m.)
                 Weekly Unemployment Report*
                  Weekly Mutual Fund Flows*
                   Natural Gas Storage Levels* (a.m.)

 *Except Holidays    ** As of 1/09         All Dates Subject to Change:
Sunday,    Feb. 18     OVERNIGHT into US Mon. a.m. et:
         Japan Jan Trade Balance (Exports/Imports), Nationwide Dept Store Sales
         UK Rightmove Feb House Prices
         Eurozone Dec Current Account & Dec Construction Output
         Japan Feb Tankan Index
Monday,   Feb. 19 President's Day Holiday, US Markets Closed Also closed, Canada, Hong Kong, China
    OVERNIGHT into US Tues a.m. et:
         New Zealand 17Q4 PPI
         RBA's Bullock speaks (Sydney)
         Japan Jan Supermarket Sales
         RBA (Aussie) February Meeting Minutes
         Swiss Jan Imports/Exports/Trade Balance
         Eurozone Dec Current Account
         Russian Jan. Unemployment Rate, PPI & Retail Sales
         Spain Trade Balance
         German Feb ZEW Survey of current situation & expectations + Sentiment
         UK CBI Feb Total Order Trends & Selling Price Trends
         Bundesbank's Dombret on "Now or Later? Completing the European Banking Union" (Geneva Suisse)
Tuesday,  Feb. 20 US Treasury Auctions $51B 3-, & $45B 6-month Bills (11:30am et)
Canada Dec Wholesale Trade Sales
Eurozone Feb Consumer Confidence
US Treasury Auctions $28B 2-year Notes & $55B 4-week Bills
China Still Closed for Lunar Holiday
    OVERNIGHT into US Wed. a.m. et:
          South Korea Jan PPI (bear in mind Olympics spending)
         Aussie 17Q4 Wage Price Index, Construction Work Done
         BoJ's Funo on 100 year anniversary of the Matsue Branch, Dec All Industry Activity Index
          Markit Feb Eurozone, France, Germany,  Manufacturing, Services, & Composite PMI
          South Africa Jan CPI
          UK Jan Jobless Claims, Claimant Count Change, ILO Dec Unemployment Rate
          UK Central Gov't Jan NCR & Public Finances
          EU FinMins meet
Wed.,       Feb. 21 MBA weekly Mortgage/Refinance Applications
Redbook weekly store sales snapshot
Fed's Harker speaks @Edward Jones Dean's Breakfast: The Economic Outlook in St. Louis w/Q&A (9am)
Markit Flash Composite PMI
US Jan Existing Home Sales
US Treasury Auctions $13B reopenmed 2-year FRN (Floating Rate 11:30am et)
US Treasury Auctions  $35B 5-year Notes (1pm et)
FOMC Releases Minutes of the Jan 30--31 MPC Meeting (2pm et)
China Still Celebrating Lunar New Year
    OVERNIGHT into US Thurs. a.m. et:
         Fed's Kashkari
participates in moderated Q&A (Minnesapolis MN 8:15pm)
          Canada CFIB Feb Business Barometer
          China Jan Swift Global Payments
          New Zealand Jan Credit Card Spending
          Swiss 17Q4 Industrial & Construction Output
          French, German, Italian, Jan CPI, HICP
          Hong Kong Jan Unemployment Rate & CPI
          Italian Dec Industrial New Orderws & Sales
          German Feb IFO Current Assessment & Expectations
         UK 17Q4 GDP + Total Business Investment, Private Consumption, Total Business Investment, Gross Fixed Capital Formation, Exports/Imports, Gov't Spending, Dec Index of Services
          BoE Publishes Account of Monetary Policy Meeting
Thursday, Feb. 22 Russia Central Bank Reserves
US weekly Jobless Claims
Fed's Dudley speaks at the Fed Reserve Bk of NY Economic Press Briefing on Puerto Rico & the US Virgin Islands (NY 10am)
Canada Dec Retail Sales, 17Q4 Corporate Profits
EIA weekly Natural Gas Report (10:30am w/e 02/16/18)
K.C. Fed Manufacturing Index
EIA weekly Petroleum/Gasoline/Distillates Report (11am et holiday delayed)
Fed's Bostic speaks @2018 Banking Outlook Conference w/Q&A (Atlanta GA noon)
US Treasury Auctions $29B 7-year Notes (the longer the term, the weaker demand, of late)
US weekly Fed Balance Sheet & Money Supply (Evidence of Fed Balance Sheet shrinking should start becoming more evident soon)
    OVERNIGHT into US Fri. a.m. et:
         New Zealand 17Q4 Retail Sales & Retail Sales ex-Inflation
         Japan Jan CPI, Corporate Service Price
         Spain Jan CPI & PPI
         German 17Q4 GDP, Private Consumption, Gov't Spending, Capital Investment, Domestic Demand, Exports/Imports
         Eurozone Jan CPI
         Canada Jan CPI
Friday,      Feb.23 Fed's Dudley on Fed's Balance Sheet Unwind at Univ of Chicago Booth School of Business/NY Fed Reserve 2018 US Monetary Policy Forum Annual Conference (NY 10:15am) Speaking later, Eric Rosengren, Paul Krugman, Sir Olivier Blanchard, Benoit Coeure, Fed's George, MS' David Greenlaw & BAC/MER's Ethan Harris
Canada Jan CPI
Baker-Hughes weekly US/North American Rig Count (1pm et)
Fed's Mester on "A Review of the Obectives for Monetary Policy" panel at US Monetary Policy Forum (1:30pm et)
Fed's Williams speaks on "Outlook on the Economy & Implications for Monetary Policy w/Q&A (Los Angeles 3:40pm)
Saturday,  Feb 24 Aussie Jan Skilled Vacancies
China Jan Property/House Prices
German Jan Import/Export Prices
Sunday,    Feb. 25     OVERNIGHT into US Mon. a.m. et:
         China Jan FX Settlement
         Singapore Jan Industrial Production
         UK BBA Jan Loans for House Purchases
         Swiss 17Q4 Unemployment Report
         Brazil Jan Current Account & Foreign Direct Investment
         ECB's Draghi testifies at EU Parliament's ECON Cmte
         ECB's Inaugural Working Group on Euro Risk-Free Rates Meeting (Frankfurt)
Monday,   Feb.26 Fed's Bullard on US Eco & Monetary Policy @NABE Economic Policy Conference, "Promoting Sustained Growth: Policy Tensions & Risks"  (8am et  D.C. thru 27th) Also speaking today, NAR, BLS, IHS Markit, CEA's Kevin Hassett,
NGA's National Governors split up to meet at White House w/Trump or Pence
Chicago Feb Nat'l Activity Index
US Jan. New Home Sales
Dallas Fed Feb Manufacturing Survey
US Treasury Auctions $51B 3- & $45B 6-month Bills (11:30am)
Fed Vice Chairman Quarles 'An Assessment of the US Economy" @NABE (3:15pm et)
BoE's Cunlife speaks @Warwick University (London)
    OVERNIGHT into US Tues. a.m. et:
         New Zealand Jan Trade Balance
         BoJ CPI
         South Korea MPC Feb Rate Decision (current 1.5%)
         German Jan Retail Sales
         Spanish Feb CPI, HICP
         Hong Kong Jan Trade Balance
         Italian Jan Trade Balance
         Eurozone Feb Economic, Business, Industrial, Services & Consumer Confidence
         Bundesbank's Weidmann presents Annual Report
         German Feb CPI & HICP
Tuesday,  Feb. 27 FOMC Chief (new) Powell Testimony at House Fin Services Cmte (10am et)
US Jan Int'l Trade Deficit
US Jan Durable Goods Orders & Shipments
US Jan Wholesale Inventories
Jan US Retail Inventories
Redbook weekly chain store sales snapshot
S&P/Case Shiller Dec. Home Price Index (9am et)
FHFA Dec House Price Index
Conference Board's US Consumer Confidence
Canada Dec Budget Balance
Richmond Fed Manufacturing Index
US Auctions $22B 52-week Bills (11:30am)
Who ya gonna call? Brookings Institution calling upon Janet Yellen & Ben Bernanke, in "A Fed Duel." (@2pm D.C.)
USDA Farm Prices (3pm)
    OVERNIGHT into US Wed. a.m. et:
         Japan Jan Retail Trade, Industrial Production/Utilization
         UK Feb Nationwide House Price Index, + GfK Consumer Confidence, Lloyds Feb Business Barometer, BRC Shop Price Index
        Aussie Jan Private Sector Credit
        China Feb Manufacturing & non-Manufacturing +Composite PMIs
        Japan Jan Vehicle Production, Housing Starts, Construction Orders
        India Nikkei Markit Feb Manufacturing PMI
        French 17Q4 GDP, Jan Consumer Spending, CPI & PPI
        Hong Kong 17Q4 GDP + Money Supply
        German Feb Unemployment Rate/Change
        Swiss ZEW Feb Expectations
        South Africa Jan PMI
        India Federal Jan Fiscal Deficit
        Eurozone & Italian Feb CPI
        India Jan Infrastructure output & M3 Money Supply         
Wed.        Feb. 28 MBA weekly Mortgage/Refinance Applications
India 17Q3 & Annualized GDP
Brazil Unemployment Rate, Jam Budget Balance
US 17Q4 GDP (Final), Personal Consumption, PCE (but is Powell looking at it?)
US 17Q4 (F) Corporate Profits
Canada Jan Industrial Products & Raw Materials Price Indices
Chicago Feb PMI
NAR Jan Pending Home Sales
EIA weekly Petroleum/Gasoline/Distillate Stockpiles
(w/e 2/23)
    OVERNIGHT into US Thurs. a.m. et:
         New Zealand 17Q4 Terms of Trade Index & ANZ Feb Job Ads
          Aussie Feb CBA Manufacturing PMI + AiG Performance of Manufacturing, Feb CoreLogic House Price Index. & 17Q4 Private CapEx
         Japan 17Q4 Company Profits & Sales, Capital Spending, Loans & Discounts
         Japan Feb Official FX Reserve Assets & Nikkei Feb Manufacturing PMI
         BoJ's Kataoka speaks (Okayama Japan)
         China Feb Caixin Manufacturing PMI
         Japan Feb Vehicle Sales & Consumer Confidence
         Aussie Feb Commodity Index
         Swiss 17Q4 GDP & Jan Retail Sales + Feb Manufacturing PMI
         Markit Eurozone, France, Germany & Italy Feb Manufacturing PMI
         UK Jan Net Consumer Credit, Mortgage Approvals, M4 Money Supply, Markit Feb Manufacturing PMI, Nationwide Home Prices
         Eurozone Jan Unemployment Rate & Feb Manufacturing PMI
         Italy FY17 GDP & Jan Unemployment Rate     
Thursday,March 1 US Feb Motor Vehicle Sales
FOMC (new)Chief Powell Testimony @Senate Banking Cmte (10am approx)
Canada 17Q4 Current Account Balance
US weekly Jobless Claims
South Africa Feb Total Vehicle Sales
US Jan Personal Income/Outlays + PCE
US Feb Manufacturing PMI
RBC Canada Feb Manufacturing PMI
US Feb Manufacturing ISM Orders/Shipments/Prices
US Jan Construction Spending
EIA weekly Natural Gas Report (w/3 02/23)
Fed's Dudley speaks w/Q&A @Central Bank of Brazil Event on Globalization & Trade (Sao Paulo Brasil)
US weekly Money Supply & weekly Fed Balance Sheet
    OVERNIGHT into US Fri. a.m. et:
         New Zealand Jan Building Permits & Feb ANZ Consumer Confidence
         Japan Jan Jobless Rate, Household Spending, Feb CPI, BoJ Monetary Base
         South Korea Jan Industrial Production, Retail Sales & Service Sector Output +Feb Trade Balance
         Aussie HIA New Home Sales
         South Korea Nikkei Feb Manufacturing PMI
         German Jan Retail Sales
         Spain Unemployment Rate/Change
         Hong Kong Jan Retail Sales
         Italy 17Q4 GDP
         Singapore Feb Manufacturing PMI
         UK Markit/CIPS UK Feb Construction PMI
Friday,    March 02 Canada Dec/17Q4 GDP
U.M. (F) Feb. Consumer Sentiment
Baker-Hughes US/North American Rig Count (1pm et)
Saturday, March 3

         WEEKS AHEAD: 0
3/06     RBA (Aussie) MPC Meets
                                         03/07     BoC (Canada) MPC Meets
                                         03/08     ECB MPC Meets
                                         03/09     BoJ MPC Meets
                                         03/21    FOMC Meets
                                         03/22     BoE MPC Meets

*FOMC 2018 Revolving Voting Members:  Chairperson Jerome Powell, as of 02/05/18, and ALL members of the FOMC Board of Governors are permanent voters: Tthat will include Randall Quarles, & Lael Brainard, plus New York Fed Pres, currently William Dudley, who plans on retiring in 2018.:New, revolving Regional Fed Bank leaders who are voters for 2018: Atlanta Fed Pres. Raphael Bostic, new in August 2017 (replaced Dennis Lockhart), former McKinsey exec Thomas Barkin, who assumed the title of Pres of Richmond Fed on 01/01/18, plus veterans John Williams, who became Pres of the San Francisco Fed after Janet Yellen became Fed Chairperson, and Cleveland Fed's Loretta Mester, a very vocal bear who wants rates raised at a quicker pace because she believes the Fed has, already, fallen behind the curve.  Richmond wound up with an opening, after Jeff Lacker resigned, in early April 2017, when it became known he'd leaked sensitive FOMC discussions to Medley Advisors. Richmond operated with an Interim Pres, Mark L Mullinix, while searching for a new leader. Raphael Bostic replaced Dennis Lockhart at the Atlanta Fed, when Lockhart left. Dissenters at the Dec. 2017 Meeting, Neel Kashkari & Charles Evans, are no longer voters in 2018. Hawk Mester votes in 2018..