In terms of news that mattered to markets, it was a quiet weekend.But there are some notable events coming up.
JPMorgan’s “Early Look At The Market” note offers up a taste.
The general feeling is that most of the market’s attention has shifted to a few events next week. This Tuesday evening, Obama is slated to give his State of the Union address; however, this isn’t expected to be a major, market moving event, especially since most of the agenda (helping the middle class, making college more affordable, investing in the country’s infrastructure, etc.) has been talked about on a couple of different occasions. More importantly, keep an eye out for headlines from the Eurozone Financial meeting this Monday and Tuesday as well as the G20 meeting on Thursday and Friday. More specifically, investors will be on the look out for any sort of commentary regarding FX, the ESM, or sovereign banks. On a more granular level, investors will also be scanning the tape later in the week for headlines from AAMRQ and LCC on any sort of final decision regarding a merger that could result in the world’s largest airline. Plans originally were for votes to occur on Mon w/an announcement Tues, but AMR needed more time to finalise details and an announcement could come later this week.
Also of note: Apple is presenting at a Goldman conference out in San Francisco. Given the decline in that stock (and the latest talk about what the company will do with the cash) that should be very interesting.