The Week Ahead
The Russell 2000, S&P 100, NASDAQ 100 and Dow Jones Industrial Average were higher for the week along. 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. President Trump to announce his Supreme Court nominee on Monday. Wednesday sees the Bank of Canada announce its latest interest rate decision. Wednesday sees the NATO Summit start in Brussels. Wednesday also sees ECB Head Mario Draghi deliver a speech. Finally on Wednesday Israeli Prime Minister Benjamin Netanyahu meets with Russian President Vladimir Putin in Moscow. The week concludes with President Trump visiting the United Kingdom
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 CPI, PPI and University of Michigan Consumer Sentiment.
3.Earnings Releases. Notable releases this upcoming week include HELE PEP WDFC FAST OZRK CBSH DAL JPM WFC C PNC.
Monday, July 9
President Trump is expected to announce his pick to replace departing Supreme Court Justice Anthony Kennedy.
Tuesday, July 10
No events of note.
Wednesday, July 11
June PPI is due out at 8:30 a.m. EDT and is expected to drop to 0.2% from 0.5%.
The Bank of Canada is expected raise interest rates when it issues the latest monetary report.
The latest short interest from the NYSE and NASDAQ is due out after the close for data through June 29th.
The latest NATO Summit begins in Brussels.
European Central Bank President Mario Draghi speaks at the Ninth Annual ECB Statistics Conference.
Israeli Prime Minister Benjamin Netanyahu meets with Russian President Vladimir Putin in Moscow.
Thursday, July 12
June CPI is due out at 8:30 a.m. EDT and is expected to remain at 0.2%.
Friday, July 13
July University of Michigan Consumer Sentiment is due out at 10:00 a.m. EDT and is expected to fall to 97.8 from 98.2.
President Trump pays a visit to the United Kingdom.
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