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Morning Matters:

The Week Ahead For July 20th
by Geoff Garbacz

July 20, 2020

The NASDAQ 100, Dow Jones Industrial Average and S&P 500 were higher for the week. The Russell 2000 was also higher for the week.

1.Geopolitical and Fiscal Events. The Senate will return to work this week. There will be several important meetings before the House and Senate on Tuesday. Expect discussions to pick up on more or less funding for Covid-19 relief.

2.Economic Releases. Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well as existing home sales, leading indicators and new home sales.

3.Earnings Releases. Notable releases this upcoming week include IBM PHG NVS KO MSFT TSLA INTC T VZ HON.

Monday, July 20

Phase I trial data for a coronavirus vaccine is due from Oxford University and Astra Zeneca (AZN). It will be published in The Lancet on Monday.

Tuesday, July 21

Several vaccine companies will testify before the House.

The Senate Banking Committee will vote on the nomination of Judy Shelton and Christopher Waller as members of the Board of Governors of the Federal Reserve System.

Wednesday, July 22

June Existing Home Sales are due out at 10:00 a.m. EDT and is expected to rise to 4.70 million from 3.91 million.

Thursday, July 23

June Leading Indicators are due out at 10:00 a.m. EDT and is expected to fall to 2.1% from 2.8%.

Friday, July 24

June New Home Sales are due out at 10:00 a.m. EDT and are expected to rise to 680,000 from 676,000.

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