Doha And ECB Along With Obama Overseas Visits To Dominate The Week Ahead

1.Geopolitical and Fiscal Events. Monday sees Federal Reserve New York President William Dudley speak with no specific time listed as of this writing as does Federal Reserve Boston President Eric Rosengren at 7:00 p.m. EDT and Federal Reserve Minneapolis President Neel Kashkari at 12:30 p.m. EDT. Tuesday sees the Senate Banking Committee hold a hearing on Iran sanctions. Wednesday sees President Obama travel to Saudi Arabia. Thursday sees President Obama travel to Great Britain.

2.Economic Releases. Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications and housing starts, existing home sales and leading indicators along with the Philadelphia Fed Survey.

3.Earnings Releases. Notable releases include PEP IBM JNJ PM KO QCOM GOOGL MSFT GE MCD.

Monday, April 18

Income Taxes are due for Federal, state and local.

Oil markets will be volatile post the Doha meeting today where efforts to freeze oil output are underway but Iran is refusing to cooperate.

The Reserve Bank of Australia (RBA) holds its latest policy announcement overnight.

Tuesday, April 19

March Housing Starts are due out at 8:30 a.m. EDT and are expected to come in at 1,170,000 from 1,178,000.

New York holds Republican and Democrat primaries.

The Senate Banking Committee holds a hearing on the role of sanctions under the Iran nuclear agreement.

Wednesday, April 20

March Existing Home Sales are due out at 8:30 a.m. EDT and is expected to rise to 5.30 million from 5.08 million.

President Obama attends a summit of the Gulf Cooperation Council in Saudi Arabia

Thursday, April 21

March Leading Indicators are due out at 10:00 a.m. EDT and are expected to rise to 0.4% from 0.1%.

The latest Philadelphia Fed Survey is due out at 8:30 a.m. EDT and is expected to fall to 9.9 from 12.4.

The European Central Bank (ECB) is out with its latest policy announcement at 7:45 a.m. EDT and no change is expected. A press conference follows at 8:30 a.m. EDT with ECB Head Mario Draghi.

President Obama goes from Saudi Arabia to Great Britain to meet with Prime Minister David Cameron over Brexit.

Brazil is closed for trading.

Friday, April 22

Passover begins and markets may see lighter trading than normal as Jews observe this holiday.

A Global Climate Change Treaty is expected to be signed at the United Nations for Earth Day.

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