The Morning Look
Market Update:
Stock futures are a relatively quiet ahead of Tuesday’s open as investors wait for another busy week of earnings and economic data. A slew of companies are reporting earnings this week, the Bank of Japan and the U.S. Fed are both meeting. Then, GDP will be released on Friday. Most importantly, the market is pausing to digest the strong post Brexit rally.
Gary’s Thoughts: Quiet indices but lots of earnings moves…MCD,MBLY,GILD,SANM,NDLS,UA,MMM on the downside..LVS,MAS on the upside…
Apple after the close.
estimates are $1.38 vs last years $1.85…a big drop. Estimates been coming down throughout the qtr in order for them to beat the number…sales $42.1 vs $49.6 billion…a huge year over year drop…
- FOMC Meeting Begins
- Redbook 8:55 AM ET
- S&P Case-Shiller HPI 9:00 AM ET
- PMI Services Flash 9:45 AM ET
- New Home Sales 10:00 AM ET
- Consumer Confidence 10:00 AM ET
- Richmond Fed Manufacturing Index 10:00 AM ET
- State Street Investor Confidence Index 10:00 AM ET
Highlights:
- Dems in chaos. Berning up protesters take to Philly streets at Democratic convention
Gary’s Thoughts: It is a socialist paradise! - More Violence over the past few days. This time it was in Japan. Before that a nightclub in Fort Myers and before that a shooting spree in Munich, Germany.
Gary’s Thoughts: And now another attack in France.