Following a months-long trend, investors will likely be watching Washington more than Wall Street next week.
Government reports due include January trade deficit figures, February retail sales and important numbers tied to consumer confidence. In addition, the Senate will be voting on a $410 billion spending bill that will provide the government with spending money to last the rest of the fiscal year.
Earnings reports are due from a handful of significant retailers, homebuilders and technology companies.
Investors will have to wait until Friday to learn the gap between the amount of goods the U.S. imports and how much it exports. The figure has been getting smaller since October, and economists believe that trend will continue. The December figure of $39.9 billion was the smallest since 2003.
February retail sales numbers are due Thursday. Analysts are expecting a decline of 0.4%.
Also Friday, the Reuters/University of Michigan consumer sentiment index will reveal the preliminary figures for March. The index has been hovering at its lowest levels since 1980.
Retailers offering quarterly financial reports include: J. Crew (JCG) on Tuesday and Neiman Marcus (NMGA) on Wednesday.
Homebuilder Hovnanian (HOV) reports on Tuesday, and tech bellwether Texas Instruments (TXN) report its mid-quarter update on Monday.
Fast food giant McDonalds (MCD) reports same store sales also on Monday.
More news out of Washington should come from meetings between car maker Toyota (TM) and members of President Barack Obama’s auto industry task force, although a spokesman for the company told Dow Jones that Toyota is not seeking funds to help it through one of the most difficult periods in the history of the industry.
The task force is attempting to design a plan to improve the health of the whole sector.
The spending bill is expected to pass through the Senate despite opposition in both parties to nearly $8 billion in so-called earmarks, or spending targeted directly for politicians’ pet projects.
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