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 Merkel and Trump

Always be more than you appear and never appear to be more than you are – Angela Merkel

FEAR NOT brave investors :lol:

New week ahead - Same Oil and Trade Price Rigging

We closed the week with a surge in oil prices after the OPEC meeting fueled by big moves in WTI monthly spreads, Midland oil triggering stops. For oil the Russian and US energy secretaries meet Tuesday is the key event. In Europe it is a big week for Germany's Angela Merkel with the Migration debate dominating the coming EU June 28-28 EU summit and could possible spell the end of her time as leader. The U.S. Supreme Court ruled states can tax online sales regardless of physical location. The rest was trade, brexit, trade, China, trade ....

This week we expect more trade war statements to keep us busy with the risk of earnings warnings such as Daimler's. Big earnings with Nike and new Dow component Walgreen Boots. The Fed will release the annual bank stress tests Wednesday. Flash euro zone inflation figures will help us forecast the ECB’s exit from stimulus. It will be the busiest week of the year so far for IPO pricings with 12 led by high-loss tech companies $DOMO and $UXIN. This weeks U.S. market data includes GDP, PCE inflation and housing. 

-comment section below data-

The Week That Was - Last Weeks Recap

 MWTop 5 6 24 18

US Stock Indices Performance

MW US Index Perf 6 24 18

US Yield Curve & SPX

MW Y Curve SPX 6 24 18

10 Year Yields

 MW TNX W 6 24 18

 S&P 500

MW SP W 6 24 18 

US Crude Oil (WTI)

MW WTI D 6 24 18

US Natural Gas (Henry Hub)

MW NG D 6 24 18

Baltic Dry Index (BDI)

MW BDI W 6 24 18

The Week Ahead

Key US Economic and Central Bank Events This Week

Monday Jun 25 

  • 08:30 USD Chicago Fed National Activity (May)
  • 10:00 USD New Home Sales (May)
  • 10:30 USD Dallas Fed Mfg Business Index (Jun)
  • Tentative CAD BoC Review
  • 11:30 USD 3-Month Bill Auction 
  • 11:30 USD 6-Month Bill Auction 
  • 22:20 EUR ECB's Coeure Speaks

Tuesday Jun 26

  • 08:55 USD Redbook
  • 09:00 USD S&P/CS HPI
  • 10:00 USD CB Consumer Confidence (Jun)
  • 10:00 USD Richmond Manufacturing Index (Jun) 1
  • 10:30 USD Dallas Fed Services Sector Outlook (Jun)
  • 11:30 USD 4-Week Bill Auction
  • 13:00 USD 2-Year Note Auction
  • 13:00 USD FOMC Member Bostic Speaks 1
  • 13:45 USD FOMC Member Kaplan Speaks
  • 16:30 USD API Weekly Crude Oil Stock 

Wednesday Jun 27

  • 07:00 USD MBA 30-Year Mortgage Rate, Mortgage Applications, Purchase Index, Mortgage Market Index, Mortgage Refinance Index 
  • 08:30 USD Durable Goods Orders
  • 08:30 USD Goods Trade Balance (May)
  • 08:30 USD Wholesale Inventories (MoM)
  • 10:00 USD Pending Home Sales (MoM)
  • 10:30 USD Crude Oil Inventories
  • 11:00 USD FOMC Member Quarles Speaks
  • 12:15 USD FOMC Member Rosengren Speaks
  • 13:00 USD 5-Year Note Auction
  • 15:00 CAD BoC Gov Poloz Speaks

Thursday Jun 28

  • Tentative EUR EU Leaders Summit
  • 08:30 USD Initial and Continuing Jobless Claims
  • 08:30 USD Core PCE Prices (Q1)
  • 08:30 USD Corporate Profits (Q1)
  • 08:30 USD GDP (QoQ) (Q1)
  • 08:30 USD Real Consumer Spending (Q1)
  • 09:30 GBP BoE MPC Member Haldane Speaks
  • 09:45 USD Bloomberg Consumer Confidence
  • 10:30 USD Natural Gas Storage 75B 91B
  • 10:45 USD FOMC Member Bullard Speaks
  • 11:00 USD KC Fed Composite Index (Jun) 
  • 11:00 USD KC Fed Manufacturing Index (Jun) 
  • 12:00 USD FOMC Member Bostic Speaks
  • 13:00 USD 7-Year Note Auction 2.930% 

Friday Jun  29

  • 09:45 USD Chicago PMI (Jun)
  • 10:00 USD Dallas Fed PCE (May)
  • 10:00 USD Michigan 5-Year Inflation Expectations (Jun)
  • 10:00 USD Michigan Consumer Sentiment (Jun) 
  • 10:30 CAD BoC Business Outlook Survey
  • 13:00 USD U.S. Baker Hughes Oil Rig Count
  • 15:30 USD CFTC  Speculative net positions COT Reports

Notable Earnings Reports This Week

*EPS estimates via Morningstar where available

Monday June 25

  • CARNIVAL CORP $CCL Before Open 0.60
  • CARNIVAL PLC $CUK Before Open 0.58
  • CINEDIGM CORP $CIDM After Market Close N/A 

Tuesday June 26

  • SCHNITZER STEEL $SCHN Before Open 1.25
  • LENNAR CORP -A $LEN Before Open 0.45
  • JINKOSOLAR HLDG $JKS Before Open 0.07
  • IHS MARKIT LTD $INFO Before Open 0.46
  • FACTSET RESH $FDS Before Open 2.14  
  • SONIC CORP $SONC After Market Close 0.49 
  • INSCAPE CORP $INQ After Market Close N/A 
  • DETERMINE INC $DTRM After Market Close -0.13 
  • AEROVIRONMENT $AVAV After Market Close  0.52 

Wednesday June 27

  • UNIFIRST CORP UNF Before Open1.56
  • PAYCHEX INC PAYX Before Open 0.61
  • GENL MILLS GIS Before Open 0.75
  • EROS INTL PLC EROS Before Open  0.15
  • CORUS ENTMT-TS CJR Before Open 0.35
  • AGF MGMT -CL B AGF Before Open 0.14
  • RITE AID CORP RAD After Market Close 0.00
  • PROGRESS SOFTWA PRGS After Market Close 0.44
  • PIER 1 IMPORTS PIR After Market Close -0.40
  • NOVAGOLD RSRCS NG After Market Close -0.02
  • NOVAGOLD RES-TS NG After Market Close -0.03
  • INVESTORS RL ES IRET After Market Close 0.09
  • FRANKLIN COVEY FC After Market Close -0.23
  • CALAMP CORP CAMP After Market Close 0.21
  • BED BATH&BEYOND BBBY After Market Close 0.32

Thursday June 28

  • WALGREENS BAI WBA Before Open 1.47
  • SINGING MACHINE SMDM Before Open N/A
  • SHAW COMM-TS SJR Before Open 0.35
  • SHAW COMMS-CL B SJR Before Open 0.28
  • OMNOVA SOLUTION OMN Before Open 0.19
  • MCCORMICK & CO MKC Before Open 0.93
  • LINDSAY CORP LNN Before Open 1.39
  • GMS INC GMS Before Open  0.67
  • CONAGRA BRANDS CAG Before Open 0.43
  • APOGEE ENTRPRS APOG Before Open 0.52
  • ACCENTURE PLC ACN Before Open 1.71
  • SYNNEX CORP SNX After Market Close -2.30
  • NIKE INC-B NKE After Market Close  0.64 
  • KB HOME KBH After Market Close  0.49 N/A

Friday June 29

  • CONSTELLATN BRD STZ Before Open 2.42 

Note these estimates and times are subject to change and for indication only. Trade and invest at your own risk.

Trade Smart!  

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