Earnings season continues next week

On the Canadian economic front, the biggest number will be Thursday’s industrial producer price index. Most economists see it as pretty much a non-event, however. Energy prices will likely boost the IPPI, but the impact will be felt mostly by overseas consumers.

U.S. Federal Reserve Chairman Alan Greenspan will be giving a speech on Tuesday, an event that always captures attention. The U.S. employment cost index is due Thursday and second quarter GDP is slated for Friday. Economists at CIBC World Markets say none of this data is likely to unseat the perception that the Fed will stand pat on interest rates in August. The GDP report is expected to confirm the prevalent hypothesis that the economy is slowing. Either way earnings will dominate market action.

Eight Dow Jones companies will report next week led by Exxon Mobil, Merck, and American Express on Monday. AT&T and McDonald’s report Tuesday, followed by DuPont and 3M on Wednesday. Disney should round out the week.

Canadian tech bellweathers, Nortel and JDS Uniphase, report next week, too. As will other important techs, such as Compaq and Nokia. Many of the dot coms, and steel maker Inco, are expected to report on Tuesday. JDS is slated for Wednesday, along with a number of drug stocks. The dot coms resurface on Thursday, joined by Nokia, WorldCom and Vodafone AirTouch. Friday will bring a couple of big energy stocks, along with paper stock Bowater.

Trimark Financial’s merger vote is on Monday. Its earnings report is due out on Tuesday. Clarica and Investors report Thursday.