I'll Take Earnings With a Slice of China and Greece for 800

Intro: Investors will watch a string of earnings and Janet Yellen testifies before the House Financial Services committee. On the economic front, we see PPI, Philly Fed and CPI

Greece: Over the weekend, Greece and its creditors came to an agreement as to terms to a bailout loan. We will likely see a bump in global markets on Monday. Additionally, as long as Tsipras gets the reformed measures passed through his countries parliament, expect the status quo 

Janet Yellen’s Testimony: On Wednesday & Thursday (7/15-16), Janet Yellen testifies before the House Financial Services committee on the Semiannual Monetary Policy Report. Investors will continue to listen to any hints as to when the Fed may raise rates later this year

Earnings: Earnings season gets into gear with 38 companies in the S&P reporting highlighted by Google, JP Morgan, Johnson & Johnson and Intel. Traders will be watching to see any surprises

Nuclear Talks: Negotiations between Iran and the six-nation group led by the US continued to push back their deadline to Monday, July 13. If some of the sanctions are lifted, we could see an additional million barrels hit the market further pushing the price of crude lower

CPI: During the week, we will see CPI readings from across the globe. Investors will be looking to see if central banks attempts to increase inflation are working. Should CPI come in weaker than expected, we could see central banks take further monetary policy steps to weaken its currency against the US Dollar. Conversely, its respective global indices will likely increase on any central bank easing

China: Last week, China’s stock market sold off significantly, only to later recover at the end of the week.  Roughly 1/3 of the companies listed on Chinese markets have been suspended from trading. Investors will monitor China to see if any volatility returns to their markets and if the government lifts the suspensions.

 

MONDAY (7/13)

  • 2:00 PM ET – Treasury Budget - Jun
  • China Trade Balance
  • Eurogroup Meetings

 

TUESDAY (7/14)

  • 8:30 AM ET - Retail Sales - Jun
  • 8:30 AM ET - Import/Export Prices - Jun
  • 10:00 AM ET - Business Inventories - May
  • National Australia Bank Business Confidence
  • French Banks are closed in observance of National Day
  • Great Britain CPI
  • German ZEW Economic Sentiment
  • Earnings: Wells Fargo, Johnson & Johnson, JP Morgan, Yum Brands, CSX

 

WEDNESDAY (7/15)

  • 10:30AM ET – Crude Oil Inventories
  • 8:30 AM ET - PPI - Jun
  • 8:30 AM ET – Empire Manufacturing - Jul
  • 9:15 AM ET – Industrial Production – Jun
  • 9:15 AM ET – Capacity Utilization – Jun
  • 2:00 PM ET – Fed’s Beige Book – Jul
  • China GDP
  • China Industrial Production
  • Bank of Japan Monetary Policy Statement and Press Conference
  • Great Britain Unemployment Rate
  • Canada Manufacturing Sales & PPI
  • Bank of Canada Monetary Policy Report
  • FOMC Chair Janet Yellen Testifies
  • FOMC Member John Williams Speaks
  • Earnings: Bank Of America, Intel, Netflix

 

THURSDAY (7/16)

  • 8:30 AM ET - Weekly Jobless Claims
  • 8:30 AM ET – Philadelphia Fed – Jul
  • ECB Press Conference
  • FOMC Chair Janet Yellen Testifies
  • Bank of England Mark Carney Speaks
  • Earnings: Google, Citigroup, Philip Morris, United Health, Goldman Sachs, eBay

 

FRIDAY (7/17)

  • 8:30 AM ET – Housing Starts – Jun
  • 8:30 AM ET – CPI - Jun
  • 8:30 PM ET – Building Permits - Jun
  • 8:30 AM ET – Michigan Sentiment - Jul
  • Canada CPI
  • FOMC Member Stanley Fischer Speaks
  • Earnings: General Electric, Honeywell