Five Things to Watch: Snapping the Streak
Sorting through Toyota's forecast, Lululemon's earnings and Sarah Palin's emails. Here's what we're watching…
Despite giving away some gains just before the closing bell Thursday, the stock market saw its first up day in over a week. Both the Dow and the S&P 500 snapped six-day losing streaks. In the case of the S&P, that was the longest decline since the depths of February 2009. Energy, materials and financials were the leaders, but the big question is whether bulls have any ammunition to keep equities headed higher.
Downward Dog, Upward Costs: Specialty (read: yogi) retailer Lululemon reports earnings before the bell, trying to manage input costs and increased competition (for seaweed-infused athletic wear?). Analysts are forecasting profits of 38 cents a share for the quarter.
Toyota's Overnight Forecast: While you're sleeping, Toyota will announce its earnings forecasts for the current financial year at 2am ET. When Toyota reported financial results last month it gave no forecasts due to the earthquake-related production disruptions. How quickly will it take for Toyota's earnings to bounce back?
Top-Dollar Meal: Place your bids Friday, as Warren Buffett's annual charity auction of a lunch with said Oracle of Omaha in New York has already reached seven figures. While last year's lunch sold for $2.6 million, this year's early bidding bodes well for an even higher number, considering the typical price spikes in the waning hours and minutes.
Mama Grizzly's Inbox: On Friday, the state of Alaska is set to release 24,199 pages of emails from Former Governor and current tour bus occupant Sarah Palin's personal Yahoo account. Hungry politicos will be ready to sort through the treasure trove of messages. What does it have to do with the markets? Not much... but we're still eager to see what's inside.