Next Week's News Today (Stimulus Package and Shadow of Reagan's Tax Cut Edition)

So, if it's Thursday (yes, it is Sunday, we're late), then it's time for Next Week's News Today where we publish our own futures calendar of earnings, reports, hearings and political events which will either drive the news, or deserve more attention. Last week we were correct to point that our highlighted economic reports would get a lot of press play. We were also right to point out that the Fed meeting would also push coverage, not because of a rate change but because they are staying the course and searching for other options. It was easy to point out that the stimulus package and the new Treasury Secretary's confirmation would garner headlines as well as the hive of activity on Capitol Hill given the House passage of the stimulus package.

This coming week Congress will be the focus because it is the Senate's turn to take a crack at the stimulus bill (2/2). Look for coverage of House Financial Services Cmte.'s Tuesday hearing on bank lending (2/3), and the Senate Banking Cmte.'s TARP hearing (2/5). All of which will be venues for windows into how legislation will play out - and what you should pick up on when you log on or pick up a paper. Also - if President Reagan were still alive, he'd celebrate his birthday on February 6th, that means look for politicians and journalists to use this date as a way to examine tax cuts.

Of additional note this week is the confirmation hearing for CIA Director nominee Leon Panetta (2/5), and while that isn't an economic story it will certainly get coverage. Likewise for Attorney General nominee Eric Holder's confirmation vote in the Senate (2/2). We do caution that you check back to WhyYouCare.com for updates on scheduling.

Here's why you care about next week's trends in earnings and reports:

Earnings: A number of banks and real estate companies are listed below that will likely get attention. As well as a few media/content companies like Disney and Time Warner.

Interesting Earning Story: Moody's (2/5) in the context of continual economic angst.

Perfect news peg for journalists: Fmr. President Ronald Reagan's birthday (2/6) in the context of tax cuts and stimulating the economy.

Reports: Home/Car/Truck sales on 2/3, mortgage applications 2/4, and different unemployment stats on 2/5 and 2/6 will all get play in the business pages.

As always notable earnings, events, and reports are below:

MONDAY 2/2
Earnings: AFLAC, BE Aerospace, First State Banc, Mattel, Orleans Homebuilders, Rent-A-Center, SanDisk, Sysco

Economic Reports: Personal Spending (for Dec.); Personal Income (for December); Construction Spending (for Dec.)

News Conf.: Senate Minority Leader Mitch McConnell talks about the economic stimulus package.

Hearing: Senate Republican Policy Committee's hearing "solutions to fix the current economic crisis."

Senate Floor: Takes up the economic stimulus package, and will likely vote on Eric Holder's nomination to be Attorney General.


TUESDAY 2/3
Earnings: ACE Limited, Actel, Archer-Daniels, Avon Products, BP, BRE Properties, Dow Chemical, Emerson, Health Net, Jones Lang LaSalle, KC Southern, Louisiana-Pacific, Magellan Midstream, Marathon Oil, Martin Marietta, Merck, MetLife, Motorola, National Retail Properties, NetLogic, Northrop Grumman, Pepsi Bottling, PNC Bank, Schering-Plough, Tupperware, Tyco, UPS, Walt Disney, YUM! Brands

Economic Reports: Pending Homes Sales (for Dec. from Natl. Association of Realtors); Car/Truck Sales (for Jan.).

News Conf.: House Financial Services Cmte. Chmn. Barney Frank on this year's agenda/priorities.

Hearing #1: House Agriculture Cmte. on derivatives legislation.

Hearing #2: House Financial Services Cmte. on "Promoting Bank Liquidity and Lending Through Deposit Insurance, Hope for Homeowners, and other Enhancements."


WEDNESDAY 2/4
Earnings: Alcatel-Lucent, Allergan, Allied Healthcare, American Capital Agency, Annaly Mortgage, Arch Chemicals, AvalonBay, Brinks, BWAY Holding, CBL & Assoc, Cisco, Clorox, Dice Holdings, Drugstore.com, Equifax, Equity Residential, Fidelity National, GLG Partners, Goodrich, ITT Industries, Kraft Foods, Las Vegas Sands, Lazard, Novellus, PepsiAmericas, Phillip Morris Inernational, Polo Ralph Lauren, Prudential, Pulte Homes, Regency Centers, Republic Airways, Reynolds American, Sara Lee, Silicon Labs, Snap-On, Spherion, Sunoco, Time Warner, Time Warner Cable, Visa, Wolverine

Economic Report: Mortgage Bankers Association's data on mortgage applications.

Hearing: Capital Markets, Insurance and Government Sponsored Enterprises Subcmte. of the House Financial Services Cmte. on Bernard Madoff and federal regulatory agencies.


THURSDAY 2/5
Earnings: Bankrate, Belo, Brookfield Properties, Burger King, CIGNA, Cincinnati Financial, CONMED, Diamond Management, Earthlink, Echelon, Elizabeth Arden, Estee Lauder, Gartner, Genworth Financial, Hartford Financial, Healthways, Insight Enterprises, Keef Bruyette & Woods, Kellogg, Kimco Realty, MasterCard, McClatchy, Micros Systems, Moody's, New Frontier Media, Omega Health, Penson Worldwide, Prestige Brands, QC Holdings, Sonoco Products, Tenneco, Warner Music Group, Western Union

Economic Reports: Initial Unemployment Claims (for 1/31).

Hearing: Senate Banking, Housing and Urban Affairs Cmte. on oversight of the Troubled Asset Relief Program (TARP).

Confirmation Hearing: Senate Select Intelligence Cmte. on Leon Panetta's CIA Director nomination.


FRIDAY 2/6
Economic Reports: Unemployment Rate (for Jan.)
Interesting item: February 6 is former President Ronald Reagan's birthday, interesting news peg for journalists wishing to examine the use of tax cuts to stimulate the economy.