The Week Ahead
The S&P 500, Dow Jones Industrial Average and NASDAQ 100 were all higher for the week. The Russell 2000 was lower again for a second week in a row.
1.Geopolitical and Fiscal Events. Wednesday the Federal Beige Book is released at 2:00 p.m. EDT. Friday the Bank of Japan is out with its latest monetary policy decision.
2.Economic Releases. Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well as NFIB Small Business Optimism, CPI, PPI, Philadelphia Fed Index, Empire State Manufacturing, Industrial Production, Retail Sales and University of Michigan Consumer Sentiment.
3.Earnings Releases. Notable releases this upcoming week include JPM GS PEP BAC WFC C TSM UNH MS ERIC STT KSU.
Monday, July 12th
The latest NYSE and NASDAQ Short Interest was due out after the close for the period of June 11th through June 28th on a trade date basis. During this period, the S&P 500 rose 1.02%. NYSE fell -0.68% while the NASDAQ rose 0.84%.
Tuesday, July 13th
June NFIB Small Business Optimism is due out at 6:00 a.m. EDT and came in last month at 99.6. There is no estimate for this month.
June CPI was out at 8:30 a.m. EDT and was expected to fall to 0.5% from 0.6% but it rose 0.9%. This will make the testimony of Federal Reserve Chairman Powell even more interesting.
The June Treasury Budget was out 2:00 p.m. EDT. and the deficit was $174 billion instead of $194 billion.
Wednesday, July 14th
Federal Reserve Beige Book is due out at 2:00 p.m. EDT.
Federal Reserve Chairman Jerome Powell begins testimony before Congress.
June PPI is due out at 8:30 a.m. EDT and is expected to fall to 0.5% from 0.7%.
Thursday, July 15th
July Philadelphia Fed Index is due out at 8:30 a.m. EDT and is expected to come in at 28.3 from 30.7.
July Empire State Manufacturing is due out at 8:30 a.m. EDT and is expected to rise to 18 from 17.4.
June Industrial Production is due out at 9:15 a.m. EDT.
Federal Reserve Chairman Jerome Powell concludes testimony before Congress.
Friday, July 16th
The Bank of Japan (BOJ) is out with its latest interest rate decision.
June Retail Sales is due out at 8:30 a.m. EDT and is expected to improve to -0.6% from -1.3%.
July University of Michigan Consumer Sentiment is due out at 10:00 a.m. EDT and is expected to rise to 86.3 from 85.5.