The NASDAQ 100 was higher as were the Dow Jones Industrial Average and S&P 100. The Russell 2000 was lower last week. The Big Picture [monthly bias] for the S&P 100, Dow Jones Industrial Average and NASDAQ 100 remains positive on the monthly DMA Channel as of the end of May. The Russell 2000 is still negative on the monthly; it has yet to turn positive by the end of the month.
1.Geopolitical and Fiscal Events. None of note.
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 Empire State Manufacturing, Retail Sales, Industrial Production, NAHB Housing Market Index, Housing Starts, Philadelphia Fed Index, Leading Indicators and University of Michigan Consumer Sentiment Index.
3.Earnings Releases. Notable releases this upcoming week include C JBHT JNJ JPM BAC NFLX MSFT UNH AXP BLK.
Monday, July 15th
July Empire State Manufacturing Index is due out at 8:30 a.m. EDT and is expected to rise to 5.0 from -8.6.
Tuesday, July 16th
June Retail Sales is due out at 8:30 a.m. EDT and is expected to fall to 0.2% from 0.5%.
June Industrial Production is due out at 9:15 a.m. EDT and is expected to fall to 0.2% from 0.4%.
July NAHB Housing Market Index is due out at 10:00 a.m. EDT and are expected to fall to 62 from 64.
Wednesday, July 17th
June Housing Starts are due out at 8:30 a.m. EDT and are expected to improve to 1,270,000 from 1,269,000.
Thursday, July 18th
July Philadelphia Fed Index is due out at 8:30 a.m. EDT and is expected to rise to 5.0 from 0.3.1%.
June Leading Indicators are due out at 10:00 a.m. EDT and expected to remain at 0.0%.
Friday, June 19th
University of Michigan Consumer Sentiment is due out at 10:00 a.m. EDT and are expected to rise to 98.9 from 98.2.