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FEAR NOT Brave Investors :

Unicorns, Trump, Putin, China, Powell and Banks

Last week the market reached a new level of apathy without fear. We closed the week with new all time highs on the Nasdaq 100, despite trade wars intensity growing and while President Trump was busy winning friends and influencing people on his European tour.  The market is in a no risk mantra like no other, well unless you count every other mania before us. Oil had its biggest one day fall in over a year but the long speculators hang on over $70 bbl WTI.  Iran keeps shouting about evil America and it's call that Iran's oil importers go to zero. All is good though unicorns are real!

This week ahead expect more trade war statements to keep us busy. President Trump will meet with Russian President Vladimir Putin in Helsinki on July 16th. China and the European Union meet in Beijing for a summit starting Monday also. Federal Reserve chair Powell will deliver his semi-annual testimony on the economy and monetary policy to the Senate Tuesday.

Reporting this week we have Microsoft and that company from another generation, GE. More banks with Bank of America, Goldman Sachs and Morgan Stanley. The freshly $4.7 Billion lighter Johnson & Johnson reports. For unicorn watchers we have Netflix earnings and Amazon prime day.

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Last Week's Big Stories

 

The Week That Was - Last Weeks Recap

Stock Markets

US Stock Indices Performance

 MW Top 5 7 14 18

US Stock Indices Performance

 MW US Index Perf 7 14 18

 S&P 500

MW SP W 7 14 18

Fixed Interest

US Yield Curve & SPX

MW Y Curve SPX 7 14 18

10 Year Treasury Note

MW TNX W 7 14 18

Energy and Commodity Markets

US Crude Oil (WTI)

MW WTI D 7 14 18 

US Natural Gas (Henry Hub)

 MW NG W 7 14 18

Baltic Dry Index (BDI)

MW BDI W 7 14 18 

 

Currency Markets

 Australian Dollar (AUDUSD)

 MW AUDUSD W 6 17 18

Euro (EURUSD)

 MW EURUSD W 6 17 18

Japanese Yen (USDJPY)

 MW USDJPY W 6 17 18

The Week Ahead

Key US Economic and Central Bank Events This Week

Monday July 16

  • All Day Holiday Japan - Marine Day
  • Tentative US President Trump and Russia President Putin Meet
  • Tentative EU and China Trade Officials Meet
  • 08:30 US Retail Sales (MoM) (Jun) 
  • 08:30 US NY Empire State Manufacturing Index (Jul)
  • 10:00 US Business Inventories (MoM) (May)
  • 11:30 US 3-Month Bill Auction
  • 11:30 US 6-Month Bill Auction 
  • 21:30 AUD RBA Meeting Minutes

Tuesday July 17

  • 08:55 US Redbook (MoM) (YoY) 
  • 09:15 US Capacity Utilization Rate (Jun) 
  • 09:15 US Industrial Production (MoM) (Jun) 
  • 09:15 US Manufacturing Production (MoM) (Jun)
  • 10:00 US Fed Chair Powell Speaks
  • 10:00 US NAHB Housing Market Index (Jul)
  • 11:30 US 4-Week Bill Auction
  • 11:30 US 52-Week Bill Auction 
  • 16:00 US US Foreign Buying, T-bonds (May) 
  • 16:00 US Overall Net Capital Flow (May) 
  • 16:00 US TIC Net Long-Term Transactions (May) 
  • 16:00 US TIC Net Long-Term Transactions including Swaps (May)
  • 16:30 US API Weekly Crude Oil Stock

Wednesday July 18

  • 07:00 US MBA 30-Year Mortgage Rate
  • 07:00 US MBA Mortgage Applications (WoW)
  • 07:00 US MBA Purchase Index 245.5
  • 07:00 US Mortgage Market Index
  • 07:00 US Mortgage Refinance Index
  • 08:30 US Building Permits (Jun)
  • 08:30 US Housing Starts (Jun)
  • 10:00 US Fed Chair Powell Speaks
  • 10:30 US EIA Crude Oil Inventories
  • 14:00 US Beige Book

Thursday July 19

  • 08:30 US Continuing Jobless Claims
  • 08:30 US Initial Jobless Claims 
  • 08:30 US Jobless Claims 4-Week Avg. 
  • 08:30 US Philadelphia Fed Manufacturing Index (Jul)
  • 08:30 US Philly Fed Business Conditions (Jul)
  • 08:30 US Philly Fed CAPEX Index (Jul) 
  • 08:30 US Philly Fed Employment (Jul) 
  • 08:30 US Philly Fed New Orders (Jul)
  • 08:30 US Philly Fed Prices Paid (Jul) 51.8
  • 10:30 US Natural Gas Storage
  • 13:00 US 10-Year TIPS Auction

Friday July 20

Notable Earnings Reports This Week

*EPS estimates via Morningstar where available

Monday July 16

  • HUNT (JB) TRANS $JBHT 1.28
  • ALFA LAVAL AB $ALFVY N/A
  • SUPERCOM LTD $SPCB Before Open -0.05
  • LUBY'S $LUB Before Open N/A
  • BLACKROCK INC $BLK Before Open 6.60
  • BANK OF AMERICA $BAC Before Open 0.63
  • TESSCO TECH $TESS After Market Close N/A
  • NETFLIX INC $NFLX After Market Close 0.80
  • FIRST DEFIANCE $FDEF After Market Close 1.02 
  • DESTINY MEDIA $DSNY After Market Close N/A
  • DESTINY MDA-TS $DSY After Market Close N/A
  • CCA INDUSTRIES $CAW After Market Close N/A 
  • AVID BIOSERVICS $CDMO After Market Close  -0.15

Tuesday July 17

  • YARA INTL-ADR $YARIY N/A
  • SANDVIK AB $SDVKY  0.26
  • UNITEDHEALTH GP $UNH Before Open 3.03
  • TELENOR ASA-ADS $TELNY Before Open  N/A
  • SCHWAB(CHAS) $SCHW Before Open 0.58
  • PROLOGIS INC $PLD Before Open 0.71 
  • PROGRESSIVE COR $PGR Before Open 1.07
  • OMNICOM GRP $OMC Before Open 1.55 
  • OCEAN POWER TEC $OPTT Before Open N/A
  • NEOGEN CORP $NEOG Before Open 0.30
  • MERCANTILE BANK $MBWM Before Open 0.57
  • JOHNSON & JOHNS $JNJ Before Open 2.06
  • GOLDMAN SACHS $GS Before Open 4.67
  • GETINGE AB $GNGBY Before Open N/A N/A N/A
  • FIRST HRZN NATL $FHN Before Open 0.36
  • COMERICA INC $CMA Before Open 1.65
  • WINTRUST FINL $WTFC After Market Close 1.44
  • UTD COMM FIN CP $UCFC After Market Close 0.19
  • UNITED FIN BCP $UBNK After Market Close  0.29 
  • UNITED CONT HLD $UAL After Market Close 3.07
  • RENASANT CORP $RNST After Market Close  0.74
  • PINNACLE FIN PT $PNFP After Market Close  1.14 
  • MELLANOX TECH $MLNX After Market Close 0.79
  • MARTEN TRANS $MRTN After Market Close 0.22
  • LEGACY TX FINL $LTXB After Market Close 0.66
  • INTERACTIVE BRK $IBKR After Market Close 0.46
  • HOPE BANCORP $HOPE After Market Close N/A 0.37
  • HANCOCK HLDG CO $HWC After Market Close 0.94 
  • FULTON FINL $FULT After Market Close 0.13 
  • FNF GROUP $FNF After Market Close 0.83 
  • CSX CORP $CSX After Market Close 0.86
  • AMER MOVIL-ADR $AMX After Market Close 0.16
  • ADTRAN INC $ADTN After Market Close -0.29 

Wednesday July 18

  • AKZO NOBEL NV $AKZOY N/A
  • US BANCORP $USB Before Open 1.01 
  • UNION BANKSHARS $UBSH Before Open  0.62
  • TEXTRON INC $TXT Before Open  0.70
  • NOVARTIS AG-ADR $NVS Before Open 1.28
  • NORTHERN TRUST$ NTRS Before Open 1.63
  • MORGAN STANLEY $MS Before Open 1.08
  • MGIC INVSTMT CP $MTG Before Open  0.35
  • M&T BANK CORP $MTB Before Open 3.17 
  • GRAINGER W W $GWW Before Open  3.77 
  • ERICSSON LM ADR $ERIC Before Open 0.02 
  • ASML HOLDING NV $ASML Before Open 1.44
  • ABBOTT LABS $ABT Before Open 0.71
  • AB ELECTROLUX $ELUXY Before Open N/A 
  • UTD RENTALS INC $URI After Market Close 3.50
  • UNIVL FST PRODS $UFPI After Market Close 0.75 
  • UMPQUA HLDGS CP $UMPQ After Market Close 0.34
  • TRIUMPH BANCORP $TBK After Market Close 0.52 
  • TRISTATE CP HLD $TSC After Market Close 0.37 
  • TEXAS CAP BCSHS $TCBI After Market Close 1.38
  • STEWART INFO SV $STC After Market Close N/A 
  • SL GREEN REALTY $SLG After Market Close 1.68
  • RLI CORP $RLI After Market Close  0.53 
  • RESOURCES CNCTN $RECN After Market Close 0.28
  • PTC INC $PTC After Market Close 0.20 
  • PREFERRED BANK $PFBC After Market Close 1.09 
  • PLEXUS CORP $PLXS After Market Close 0.82 
  • NOODLES & CO $NDLS After Market Close 0.03
  • INTL BUS MACH $IBM After Market Close 3.03 
  • GREAT SOUTH BCP $GSBC After Market Close 0.92
  • EBAY INC $EBAY After Market Close  0.39
  • EAGLE BCP INC $EGBN After Market Close 1.06
  • DATAWATCH CORP $DWCH After Market Close N/A 
  • CVB FINL $CVBF After Market Close 0.31 
  • CROWN HLDGS INC $CCK After Market Close 1.58 
  • CROWN CASTLE $CCI After Market Close 1.27 
  • CONSOL TOMOKA $CTO After Market Close  1.18
  • COHEN&STRS INC $CNS After Market Close  0.62 
  • CDN PAC RLWY-TS $CP After Market Close  3.11  
  • CDN PAC RLWY $CP After Market Close  2.40 
  • CATHAY GENL BCP $CATY After Market Close  0.90 
  • BOSTON PRIV FIN $BPFH After Market Close  0.23 
  • BERKSHIRE HILLS $BHLB After Market Close  0.70
  • BANCORPSOUTH BK $BXS After Market Close  0.55 
  • BADGER METER $BMI After Market Close  0.40
  • AMER EXPRESS CO $AXP After Market Close 1.83
  • ALCOA CORP $AA After Market Close 1.35 

Thursday July 19

  • PETROLEUM GEO $PGSVY N/A
  • ADVA OPTICAL $ADVOF  0.10
  • WNS HLDGS-ADR $WNS Before Open 0.40
  • WEBSTER FINL CP $WBS Before Open  0.87
  • WABCO HOLDINGS $WBC Before Open 1.90 
  • VOLVO AB-B $VLVLY Before Open 0.36
  • UNION PAC CORP $UNP Before Open 1.93
  • UNILEVER PLC $UL Before Open N/A
  • UNILEVER N V $UN Before Open  N/A
  • TRAVELERS COS $TRV Before Open 2.44
  • TILE SHOP HLDGS $TTS Before Open 0.09
  • TAIWAN SEMI-ADR $TSM Before Open 0.45
  • SYNTEL INC $SYNT Before Open 0.44
  • SONOCO PRODUCTS $SON Before Open 0.86
  • SNAP-ON INC $SNA Before Open  2.95 
  • SCHOLASTIC CORP $SCHL Before Open
  • 1.39 N/A SAP SE $SAP Before Open  0.98 
  • SANDY SPRING $SASR Before Open 0.80 
  • S&T BANCORP INC $STBA Before Open 0.60
  • RPM INTL INC $RPM Before Open 1.18 
  • ROGERS COMM CLB $RCI Before Open 0.81 
  • ROGERS COM B-TS $RCI Before Open 1.03
  • PPG INDS INC $PPG Before Open 1.89
  • PHILIP MORRIS $PM Before Open 1.23 
  • NUCOR CORP $NUE Before Open  2.12
  • KEYCORP NEW $KEY Before Open 0.42
  • INSTEEL INDS $IIIN Before Open N/A
  • HOME BANCSHARES $HOMB Before Open 0.44
  • GENUINE PARTS $GPC Before Open 1.56
  • GATX CORP $GATX Before Open 0.92 
  • FIFTH THIRD BK $FITB Before Open 0.57
  • EAST WEST BC $EWBC Before Open 1.09
  • DOVER CORP $DOV Before Open 1.21
  • DOMINOS PIZZA $DPZ Before Open 1.76 
  • DANAHER CORP $DHR Before Open 1.09
  • COUNTY BANCORP $ICBK Before Open 0.54
  • COMP TASK $CTG Before Open 0.08
  • CHOICE PPT REIT $CHP Before Open  0.27 
  • CHART INDUSTRIE $GTLS Before Open  0.45
  • BLACKSTONE GRP $BX Before Open 0.70
  • BB&T CORP $BBT Before Open 1.01 
  • BANK OF NY MELL $BK Before Open 1.03 
  • ALLIANCE DATA $ADS Before Open 4.36
  • ABB LTD-ADR $ABB Before Open 0.36
  • WESTERN ALLIANC $WAL After Market Close 0.98 
  • WEST FRASER TBR $WFT After Market Close N/A 
  • SKYWORKS SOLUTN $SWKS After Market Close 1.40 
  • SKECHERS USA-A $SKX After Market Close 0.40
  • SERVISFIRST BCS SFBS After Market Close N/A 0.58
  • SB FINANCIAL GP $SBFG After Market Close 0.38
  • QCR HLDGS INC $QCRH After Market Close 0.79
  • PEOPLES UTD FIN $PBCT After Market Close 0.32 
  • NORTHWESTERN CP $NWE After Market Close 0.44 
  • MICROSOFT CORP $MSFT After Market Close 1.07 
  • MB FINANCL INC $MBFI After Market Close 0.68
  • LIMELIGHT NETWK $LLNW After Market Close 0.00 
  • INTUITIVE SURG $ISRG After Market Close  2.02
  • INDEP BK MASS $INDB After Market Close 1.11
  • GLACIER BANCORP $GBCI After Market Close 0.53 
  • FIRST FIN BC-OH $FFBC After Market Close  0.51 
  • EXPONENT INC $EXPO After Market Close 0.30 
  • EQUITY BANCSHRS $EQBK After Market Close N/A
  • ENTEGRA FINL CP $ENFC After Market Close 0.52 
  • EASTGROUP PPTYS $EGP After Market Close 1.12
  • E TRADE FINL CP $ETFC After Market Close 0.89 
  • CINTAS CORP $CTAS After Market Close 1.65
  • CELANESE CP-A $CE After Market Close 2.37
  • CAPITAL ONE FIN $COF After Market Close 2.62
  • BRANDYWINE RT $BDN After Market Close 0.34
  • ASSOC BANC CORP $ASB After Market Close 0.48
  • AEHR TEST SYS $AEHR After Market Close N/A

Friday July 20

  • STORA ENSO -ADR $SEOAY  N/A
  • WIPRO LTD-ADR $WIT Before Open 0.06
  • V F CORP $VFC Before Open 0.33
  • SUNTRUST BKS $STI Before Open 1.30
  • STATE ST CORP $STT Before Open 2.01
  • STANLEY B&D INC $SWK Before Open 2.03
  • SENSIENT TECH $SXT Before Open  0.92
  • SCHLUMBERGER LT $SLB Before Open 0.43 
  • REGIONS FINL CP $RF Before Open 0.33
  • OFG BANCORP $OFG Before Open 0.25
  • MANPOWER INC WI $MAN Before Open 2.35 
  • KANSAS CITY SOU $KSU Before Open 1.52 
  • IBERIABANK CORP $IBKC Before Open 1.59
  • HONEYWELL INTL $HON Before Open 
  • 2.00 N/A GENTEX CORP $GNTX Before Open 0.41
  • GENL ELECTRIC $GE Before Open 0.18
  • CLEVELAND-CLIFF $CLF Before Open 0.54
  • CITIZENS FIN GP $CFG Before Open  0.86
  • BANCO LATINOAME $BLX Before Open 0.57 
  • BAKER HUGHES GE $BHGE Before Open 0.14
  • CEMENTOS PACASM $CPAC After Market Close N/A

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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