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Morning Matters:

The Week Ahead Back To The Swamp With Supreme Court Nomination Hearings
by Geoff Garbacz

September 4, 2018

The Russell 2000, S&P 100, NASDAQ 100 and Dow Jones Industrial Average were all higher for the week. 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. Tuesday sees nomination hearings begin on Supreme Court nominee Brett Kavanaugh. Wednesday sees the Bank of Canada announce its latest interest rate decision. Thursday public comments on the latest upcoming tariffs are due. Friday sees Turkish President Erdogan meet with Iranian President Rouhani and possibly Russian President Putin. 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 ISM index, construction spending, ADP Payroll, factory orders, nonfarm payrolls and unemployment rate. 3.Earnings Releases. Notable releases this upcoming week include WDAY CASY CTRP HDS AVGO PANW MRVL GCO. See the Earnings section.

4.Company, Analyst and Regulatory Meetings. Type 1s: none of note. Type 4s: none of note.

Monday, September 3

Markets in the U.S. are closed for Labor Day.

Tuesday, September 4

August ISM Index is due out at 10:0 a.m. EDT and is expected to fall to 57.6 from 58.10.

July Construction Spending is due out at 10:0 a.m. EDT and is expected to rise to 0.5% from -1.1%.

Hearings on Supreme Court nominee Brett Kavanaugh begin in Washington D.C.

Wednesday, September 5

The Bank of Canada is out with its latest interest rate decision.

Thursday, September 6

August ADP Payroll is due out at 8:15 a.m. EDT and are expected to drop to 186,000 from 219,000.

July Factory Orders is due out at 10:0 a.m. EDT and is expected to fall to -0.6% from 0.7%.

August ISM Services is due out at 10:0 a.m. EDT and is expected to rise to 56.5 from 55.7.

The public comment period end on $200 billion in Chinese tariffs and President Trump is expected to move ahead with tariffs.

Friday, September 7

August Nonfarm Payrolls is due out at 8:30 a.m. EDT and is expected to rise to 187,000 from 157,000. The unemployment rate is expected to stay at 3.9%.

Turkish President Tayyip Erdogan to meet with Iranian President Hassan Rouhani and Russian President Vladimir Putin

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