Big week coming up. Not only is it the beginning of earnings season, but the economic reports are heavy. PPI, CPI, industrial production, capacity utilization, Fed minutes on Wednesday, jobless claims and housing figures will all be market movers:
- Monday: June Treasury Budget
- Tuesday: June Producer Price Index (PPI), June retail sales, May business inventories
- Wednesday: June Consumer Price Index (CPI), July Empire State (NY) Index, June industrial production and capacity utilization, Fed minutes, weekly crude inventories
- Thursday: July Phili Fed survey, July National Association of Homebuilders Index, weekly initial jobless claims
- Friday: June housing starts and building permits
We get 83 total earnings reports with 6 Dow components and 23 S&P 500 companies. Some of them will be major market movers. The 6 Dow components include, BAC, IBM, JNJ, JPM GE and INTC. Other firms that will be market movers include Goldman Sachs, Google and Citi. Adding to the volatility will be July options expiration on Friday.
I will be out with an earnings update on Sunday evening so stay tuned. We’ll be preparing for how to position ourselves heading into the volatile week. Preliminary results are looking at many positive surprises and a market rally, but we’ll solidify our thinking later in the weekend.
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.