THE WEEK AHEAD: Facebook, Facebook and More Facebook

Companies will report their earnings next week and housing data is due that might shed some light on that beleaguered sector. But nothing will compare to the hoopla that will surround Facebook’s initial public offering scheduled for Thursday. It is without a doubt the most anticipated IPO in nearly a decade, since Google (GOOG: 610.73, +6.73, +1.11%) took its shares public in 2004. Indeed, it may be the single most anticipated event on Wall Street in recent memory. The media spent all this week chasing Facebook’s road show around the U.S. for signs that enigmatic CEO and founder Mark Zuckerberg was in attendance. On Monday he showed up to meetings in New York in his trademark hoodie and jeans. Facebook filed last week to sell 337.4 million shares at a proposed range of $28 to $35. At that price the deal would value the social media site at around $96 billion, easily the most highly valued U.S. Internet company. Reports ahead of Thursday night's expected pricing suggest (not surprisingly) that demand is strong, so the pricing range could move higher next week.

 
DATA DECK FOR May 14 - 18
May 15 8:30 AM Retail Sales Apr 0.2% 0.2% 0.7%
May 15 8:30 AM Retail Sales ex-auto Apr 0.2% 0.2% 0.8%
May 15 8:30 AM CPI Apr 0.0% 0.0% 0.3%
May 15 8:30 AM Core CPI Apr 0.2% 0.2% 0.2%
May 15 8:30 AM Empire Manufacturing May 8.0 8.4 6.6
May 15 9:00 AM Net Long-Term TIC Flows Mar NA NA $10.1B
May 15 10:00 AM Business Inventories Mar 0.3% 0.3% 0.6%
May 15 10:00 AM NAHB Housing Market Index May 26 26 25
May 16 7:00 AM MBA Mortgage Index 05/12 NA NA 1.7%
May 16 8:30 AM Housing Starts Apr 675K 680K 654K
May 16 8:30 AM Building Permits Apr 725K 730K 747K
May 16 9:15 AM Industrial Production Apr 0.4% 0.5% 0.0%
May 16 9:15 AM Capacity Utilization Apr 78.9% 79.0% 78.6%
May 16 10:30 AM Crude Inventories 05/12 NA NA 3.652M
May 16 2:00 PM FOMC Minutes 4/25 - - -
May 17 8:30 AM Initial Claims 05/12 365K 365K 367K
May 17 8:30 AM Continuing Claims 05/05 3250K 3250K 3229K
May 17 10:00 AM Philadelphia Fed May 10.0 8.8 8.5
May 17 10:00 AM Leading Indicators Apr 0.1% 0.2% 0.3%
   
 
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