Concerns over Greece and the issues in Ukraine finally put some perspective into the markets. The trend of sell-offs on Fridays have become commonplace as traders take some risk off the table into the weekends.

The CBOE Volatility Index (VIX) fell 17% and is sitting right at its 50-day moving average. Although the U.S. economic data and corporate news remains robust, there are cracks in the reports and geopolitical concerns are numerous. Many analysts believe the markets are topping out near all-time highs once again. The jobs report showed solid gains and wage growth finally ticked up substantially, which have many positively optimistic.

This upcoming week is relatively light on economic data, but there are some key reports due. After Friday’s better-than-expected employment report, traders will be looking to see if the consumer sector gains in other aspects. The JOLTS report is posted Tuesday and the key question is whether increases in job openings continue. Retail sales declined in December despite lower gasoline prices and auto sales remained volatile. We may see more of the same for January on both factors, but with the underlying trend still looks healthy. Readings on the consumer mood have been relatively strong and on Friday we get an update for early February from the University of Michigan. Earnings season also continues and a few Blue Chips are due to slowly finish up the quarterly results.

Major Earnings for the Upcoming Week:

Monday:
A.M. – CAN, DO, HAS, L, SOHU
P.M. –CSC, RICK

Tuesday:
A.M. – CDW, CVS, DF, KKR, MWW, REGN, SAVE, HOT, UBS
P.M.– AKAM, GNW, LOCK, WU

Wednesday:

A.M. – AOL, ARMH, FSRV, LO, MDLZ, MOS, OC, PEP, TWX, ZTS

P.M. – AMAT, BIDU, CTL, CAKE, CSCO, FEYE, MET, NTAP, NVDA, PNRA, TSLA, TSO, TRIP, Z

Thursday:

A.M. – AAP, ANR, APA, AVP, CS, DPS, IFF, JAH, SNI

P.M. – BYD, CBS, GRPN, KRFT, SFLY, SON, TIME, WWE

Friday:

A.M. –DTE, EXC, SJM, TRW, VF

Economic Releases (2/9 – 2/13):

Monday:

11:30 am CT – TD Ameritrade IMX

Tuesday:

7:20 am CT – Fed’s Lacker Speaks

9:00 am CT– JOLTS

9:00 am CT – Wholesale Trade

12:00 pm CT – 3-year Note Auction Results

Wednesday:

6:00 am CT – MBA Purchase Applications

7:00 am CT – Fed’s Fisher Speaks

9:30 am CT – Oil Inventories

12:00 pm CT – 10-year Note Auction Results

1:00 pm CT – Treasury Budget

Thursday:

7:30 am CT – Weekly Jobless Claims

7:30 am CT – Retail Sales

9:00 am CT – Business Inventories

9:30 am CT – Natural gas Inventories

12:00 pm CT – 30-year Bond Auction Results

Friday:

7:30 am CT – Import & Exprt Prices

9:00 am CT – Consumer Sentiment

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