The Week Ahead Driven By Trade Talks
The Russell 2000, S&P 100 and Dow Jones Industrial Average were higher for the week. The NASDAQ 100 however was lower for the week.
1.Geopolitical and Fiscal Events. Wednesday sees President Trump meet with EU leaders to discuss trade issue. Thursday see the ECB announce its latest interest rate decision. Also on Thursday the WTO meets as do North American countries discussing NAFTA.
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 existing home sales, new home sales, durable goods and Q2 GDP along with Michigan Sentiment.
3.Earnings Releases. Notable releases this upcoming week include GOOGL ITW T VZ FB V AMZN RDSA XOM CVX.
Monday, July 23
Existing Home Sales are due out at 10:00 a.m. EDT and are expected to rise to 5.45 million from 5.43 million..
Tuesday, July 24
The latest NYSE and NASDAQ short interest data through settlement of July 13th is due out after the close.
Wednesday, July 25
June New Home Sales are due out at 10:00 a.m. EDT and are expected to fall to 670,000 from 689,000.
President Trump meets with European Commissioner Jean-Claude Juncker and European Union Trade Chief Cecilia Malmstrom on tariff issues.
Thursday, July 26
The European Central Bank (ECB) meets and is expected to keep interest rates unchanged.
The World Trade Organization (WTO) meets to discuss the potential trade wars erupting around the world.
The U.S., Canada and Mexico meet to restart NAFTA negotiations.
Friday, July 27
Q2 GDP is due out at 8:30 a.m. EDT and is expected to rise to 4.1% from 2.0%.
July Michigan Sentiment is due out at 10:00 a.m. EDT and is expected to remain at 97.1.