What a Long Strange Market It's Been

Intro: With the Nasdaq composite continuing to hit all-time highs, traders will focus their attention to the latest earnings reports. Traders will also be turning their attention to the latest Fed statement. On the economic front, we have Consumer Confidence, Pending Home Sales  and 2Q GDP

Earnings: Earnings season continues with overdrive with 6 of the Dow 30 companies reporting highlighted by Facebook, Pfizer and Exxon Mobil. Traders will be watching to see any surprises

Fed Statement: On Wednesday (7/29), the Fed will release its latest statement. This meeting is limited to a statement with no press conference scheduled until after the next Fed meeting September 17th. Traders will look for any hints in the statement as to verbiage which may indicate their schedule for raising interest rates

Consumer Confidence: On Tuesday (7/28), data on Consumer Confidence is released. If readings come in higher than expected, traders will equate it with consumer’s making bigger purchases and business conditions improving. As a result, expect consumer discretionary stocks to react

MONDAY (7/27)

  • 8:30 AM ET – Durable Orders – June
  • German IFO Business Climate
  • Earnings: Baidu, Canon

 

TUESDAY (7/28)

  • 10:00 AM ET – Consumer Confidence - Jul
  • Great Britain GDP
  • Earnings: Pfizer, Gilead Sciences, Merck, BP, United Parcel Service, Ford, Ecolab

 

WEDNESDAY (7/29)

  • 10:00 AM ET – Pending Home Sales - Jun
  • 10:30AM ET – Crude Oil Inventories
  • 2:00 PM ET – FOMC Statement
  • Earnings: Facebook, MasterCard, GlaxoSmithKline, Altria Group, MetLife, General Dynamics, Anthem, Northrop Grumman

 

THURSDAY (7/30)

  • 8:30 AM ET - Weekly Jobless Claims
  • 10:00 AM ET – GDP Adv. – 2Q
  • Reserve Bank of Australia Governor Glenn Stevens Speaks
  • Australia Building Approvals
  • Australia PPI
  • Earnings: Proctor & Gamble, Anheuser-Busch, Amgen, AstraZeneca, ConocoPhillips, Occidental Petroleum, Time Warner Cable, Cigna, Sony

 

FRIDAY (7/31)

  • 8:30AM ET – Employment Cost Index -2Q
  • 9:30 AM ET – Chicago PMI – Jul
  • 9:55 AM ET - Michigan Sentiment - Jul
  • Canada GDP
  • Earnings: Exxon Mobil, Chevron, Honda, Philips 66