The Week Ahead

Major stock indexes fell this past week across the board, making it down twelve weeks of the last fifteen weeks.

1. Geopolitical and Fiscal Events. The key issue remains how the Russian invasion of Ukraine progresses. The ECB is out with its latest announcement Thursday morning and the BOJ will be out Thursday night/Friday morning in Japan.

2. Economic Releases. Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications and NAHB Housing Index, Housing Starts, Existing Home Sales, Philadelphia Fed Index and Leading Economic Index.

3. Earning Releases. Notable release this upcoming week include BAC IBM (Monday), JNJ LMT (Tuesday), TSLA ABT (Wednesday), DHR T (Thursday) and VZ AXP (Friday).

Monday, July 18th

July NAHB Housing Market Index is due out at 10:00 a.m. EDT is expected to come in at 66 from 67 last month.

Tuesday, July 19th

June Housing Starts are due out at 8:30 a.m. EDT and expected to come in at 1,598,000 from last month at 1,549,000.

Wednesday, July 20th

June Existing Home Sales are due out at 10:00 a.m. EDT and expected to come in at 1.10% from 1.0%.

The latest Treasury Budget is due out at 2:00 p.m. EDT and the last one came in at $-66.2 billion.

Thursday, July 21st

June Leading Economic Index are due out at 10:00 a.m. EDT and expected to report at -0.5% from -0.4%.

The European Central Bank (ECB) is out with latest announcement at 7:45 a.m. EDT and presser at 8:30.

Friday, July 22nd

On Friday, the Bank of Japan (BOJ) is also out with its latest announcement on Thursday night U.S.