Upcoming Government Reports & Holidays
|1-Aug||CONSTRUCTION SPENDING||10:00 AM|
|2-Aug||MANUFACTURERS’ SHIPMENTS, INVENTORIES…||10:00 AM|
|3-Aug||EMPLOYMENT SITUATION REPORT||8:30 AM|
|3-Aug||INTERNATIONAL TRADE REPORT||8:30 AM|
|3-Aug||U.S. INTERNATIONAL TRADE IN GOODS & SERVICES||8:30 AM|
|9-Aug||MONTHLY WHOLESALE TRADE: SALES & INVENTOR…||10:00 AM|
|9-Aug||PRODUCER PRICE INDEX REPORT||8:30 AM|
|10-Aug||CONSUMER PRICE INDEX REPORT||8:30 AM|
|15-Aug||ADVANCE MONTHLY SALES FOR RETAIL & FOOD SERV||8:30 AM|
|15-Aug||MANUFACTURING & TRADE: INVENTORIES & SALES||10:00 AM|
|16-Aug||NEW RESIDENTIAL CONSTRUCTION||8:30 AM|
|23-Aug||NEW RESIDENTIAL SALES||10:00 AM|
|24-Aug||ADVANCE REPORT ON DURABLE GOODS||8:30 AM|
|28-Aug||ADVANCE ECONOMIC INDICATORS REPORT||8:30 AM|
|29-Aug||GROSS DOMESTIC PRODUCT||8:30 AM|
Key Events That Moved the Market in July 2018
Above: Daily Chart of S&P 500 Index From July 1 – July 24, 2018
- Due to worsening trade war fears and signs of political instability in Germany, namely the rebellion against Chancellor Merkel that took place over the weekend, stock indices opened lower.
- In China, stock market declines entered bear market territory; their Shanghai blue chip index calling by 2.9%.
- ISG Mfg Index came out at 60.2, neating 58.5 expectations.
- News surrounding speculation that China’s central bank intervened in the FX market to support the yuan may have caused indices to open higher.
- The Shanghai blue chip index traded at a two-year low.
- US factory orders were expected to remain unchanged, inched up to 0.40% from its previous -0.80%.
- News that President Trump may ease tariffs on European autos in exchange for concessions may have contributed to lifting the markets.
- Jobless Claims rose by 3,000 to 231,000 in June; higher than estimates.
- Indices rose higher on non-farm payroll numbers which increased to a seasonally adjusted 213,000 in June, neating estimates of 195,000 new jobs.
- Average hourly earning rose by 0.20%, which was a disappointment given the expectation of 0.30%.
- Unemployment rate up to 4%, higher than the expected 3.8%
- Last weeks strong jobs report may have contributed to the markets’ strong opening across all three major US indices.
- With US corporate earnings in focus, it appears as if global trade concerns have taken the back seat.
- Q2 earnings reports begin on Friday the 13th. Analysts are predicting that S&P companies will have increased their earnings by 20%; higher than their April forecasts.
- Global trade tensions were back in focus as the US threatened to impose additional tariffs on Chinese goods worth $200 billion.
- Markets are focused on the start of Q2 earnings reports starting tomorrow.
- No detailed response from China on the $200 billion tariffs.
- Jobless Claims decreased by 18,000, beating economist expectations.
- Consumer prices increase by 0.1%, less than the expected 0.2%.
- Corporate earnings kicked off stronger than expected, yet the global trade wars may have dampened a bit of the optimism.
- China’s trade surplus over the US was reported at a record-high level of $29 billion, a fact that traders suspect may further intensify the trade dispute.
- Consumer sentiment came in lower than expected at 97.1.
- The drop in crude oil prices and the ongoing trade dispute may have hampered the bullish impact of strong corporate earnings.
- Investors seem to hesitate placing new positions until after President Trump’s Helsinki meeting with Russian President Vladimir Putin.
- China’s economy was reported to have grown by 6.7%.
- Among the S&P 500 companies that have reported earning, so far o9ver 85% have exceeded expectations.
- Indices advanced after Fed Chair Powell’s testimony despite its hawkish tone.
- Industrial production in June is up 0.6%; housing market index remains unchanged.
- News that housing starts declined by 12.3% hampered the market’s advance; as the largest drop since 2016, it disappointed economist expectations of a 2.2% decline.
- Q2 S&P earnings growth is now estimated at 21.2%, slightly higher than earlier estimates of 20%.
- No major economic reports today.
- Indices fell after President Trump announced that he is ready to impose levies on $500 billion worth of imports.
- Corporate growth expectations rose to 22%, as 90% of S&P 500 companies have now reported growth exceeding expectations.
- Existing home sales declined to 5.38 from an estimate of 5.44.
- Markets opened higher due to stronger-than-expected corporate earnings.
- Google-parent Alphabet’s earnings led the Dow up 150 points.
- Trump unveils $12 billion emergency aid for farmers hurt by the tariffs.
- Trump turns up the heat, tweeting “Tariffs are the greatest!”; referring to them as both hard negotiating tactic and a punitive measure.