The Week Ahead

Economic data, December vehicle sales and retail same-store sales reports will be the main focus in the coming week.

There are nine economic reports scheduled, including the widely watched employment report for December.  Economists expect that the U.S. shed jobs for the 12th straight month.  More information can be found at Briefing.com's Economic Calendar.

Retailers report same-store sales results for December on Thursday and Friday.  Market participants will closely watch to see if holiday sales were as poor as the guidance of some retailers suggested.

The number of companies confirmed to announce their quarterly earnings results starts to pick up.  Some of the more widely held names on the Earnings Calendar include Mosaic (MOS), Constellation Brands (STZ), Monsanto (MON), Supervalu (SVU) and Bed Bath & Beyond (BBY).

Several Fed officials will speak throughout the week, and the Dec. 16 FOMC meeting minutes will be released Tuesday.  In overseas news, the Bank of England will announce its interest rate policy decision on Thursday.

________________________________________________________________

Monday, January 5:

• Earnings: Piedmont (PNY), Mosaic (MOS)

• Economic Data: Construction Spending (Nov.)

• Events: None

• Conferences: None

• Fed Speakers: San Francisco Fed President Yellen speaks on monetary policy at 5:30 PM ET

Tuesday, January  6:

• Earnings: Acuity Brands (AYI), Finish Line (FINL)

• Economic Data: Factory Orders (Nov.)... ISM Services (Dec.)... Pending Home Sales (Nov.)

• Events: Fed releases Dec. 16 FOMC meeting minutes... Macworld

• Conferences:  Citi Global Entertainment, Media & Telecommunications Conference (Day 1 of 3)

• Fed Speakers: None

Wednesday, January 7:

• Earnings: Constellation Brands (STZ), Family Dollar (FDO), Monsanto (MON), Supervalu (SVU), Bed Bath & Beyond (BBY)

• Economic Data: ADP Employment Report (Dec.)

• Events: Weekly Crude Inventories (week ended Jan. 3)... Consumer Electronics Show 2009 (Day 1 of 5)

• Conferences:  Citi Global Entertainment, Media & Telecommunications Conference (Day 2 of 3)... Goldman Sachs CEOs Healthcare Conference

• Fed Speakers: Kansas City Fed President Fed Hoeing speaks on U.S. economic outlook at 1:00 PM ET

Thursday, January 8:

• Earnings: Allscripts (MDRX), Apollo Group (APOL)

• Economic Data: Consumer Credit (Nov.)... Weekly unemployment claims (week ended Jan. 3)

• Events: Retailers announce December same-store sales results... Bank of England interest rate policy announcement... Consumer Electronics Show 2009 (Day 2 of 5)

• Conferences: Citi Global Entertainment, Media & Telecommunications Conference (Day 3 of 3)... JPMorgan Tech Forum in conjunction with the 2009 Consumer Electronics Show

• Fed Speakers: Fed Hoeing speaks about infrastructure spending at 4:00 PM ET

Friday, January 9:

• Earnings: AZZ (AZZ), KB Home (KBH)

• Economic Data: Employment Report (Dec.)... Wholesale Inventories (Nov.)

• Events:  Consumer Electronics Show 2009 (Day 3 of 5)

• Conferences: None

• Fed Speakers: Richmond Fed President Lacker speaks on financial conditions at 12:30 PM ET