The Russell 2000, S&P 100, NASDAQ 100 and Dow Jones Industrial Average were all lower for the week thanks to Friday’s action. The Big Picture [monthly bias] for the NASDAQ 100, the Dow Jones Industrial Average, Russell 2000 and the S&P 100 remain positive.
1. Geopolitical and Fiscal Events. Monday sees OPEC issue its Monthly Oil Market Report. On Friday S&P will review Turkey’s credit rating while Fitch reviews Russia.
2. Economic Releases. Releases of note this week and next include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well as retail sales, industrial production, housing starts, leading indicators and Michigan Consumer Sentiment.
3. Earnings Releases. Notable releases this upcoming week include SYY VIPS HD A CSCO NTAP WMT NVDA AMAT DE.
Monday, August 13
OPEC releases its Monthly Oil Market Report. No time specified.
Tuesday, August 14
None of note.
Wednesday, August 15
July Retail Sales are due out at 8:30 a.m. EDT and are expected to fall to 0.1% from 0.5% in June.
July Industrial Production is due out at 9:15 a.m. EDT and is expected to fall to 0.4% from 0.6%.
Thursday, August 16
July Housing Starts are due out at 8:30 a.m. EDT and are expected to rise to 1,275,000 from 1,256,000.
Friday, August 17
July Leading Indicators are due out at 10:00 a.m. EDT and are expected to remain at 0.5% month over month.
University of Michigan Consumer Sentiment (preliminary) is due out at 10:00 a.m. EDT and is expected to fall to 97.8 from 97.9.
S&P will review Turkey’s credit rating while Fitch reviews Russia.
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