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7/15/18
Thomas Thornton
The Week Ahead - Key Events and Focus

Earnings seasons really gets under way and will be the main focus of the week. Friday's big bank earnings were similar to last quarter with mostly decent numbers which were subsequently sold.  One of the issues that I brought up last week was how banks have very low short interest and have been very crowded longs.  Short interest in the market is low especially in the largest cap leaders.  Netflix used to have Tesla like huge short interest and now the lowest short in the past 10 years. They report Monday after the close and I would not be surprised to see a down reaction.  Notable reporters include but are not limited to: (BAC, JBHT, NFLX, GS, JNJ, SCHW, UNH, CSX, GWW, USB, IBM, EBAY, URI, DPZ, KEY, PM, UNP, COF, MSFT, PYPL SWKS, WAL, CFG, GE, HON, SWK, VFC).

The economic calendar will see a few notable events with China reporting Q2 GDP on Monday morning and US Retail Sales Monday morning too.   Fed Chair Powell's Senate testimony on Tuesday will be closely followed as the Q and A could be market moving.  Powell is for sure not like previous Fed Chairman's as he can be rather open and blunt which isn't always market friendly.

S&P bullish sentiment is at 72% and the Nasdaq 100 bullish sentiment is at 70% up from 60% last week.  On Friday I highlighted the Nasdaq upside DeMark exhaustion signals and a price reaction is due within the next 12 days.  I'll be all over this in the coming days on the note.


Have a great week!  Good luck! 

Earnings, Conferences, Economic Reports

    Monday 16-Jul:
      Corporate:
        Earnings:
        • Pre-open: BAC, BLK, JBHT
        • Post-close: NFLX
      Economic:
      • US: Retail Sales (Jun), Empire Manufacturing (Jul), Business Inventories (May)
      • Europe: Euro-zone: Trade Balance (May)
      • Asia (Sun PM / Mon AM): China: GDP (Q2), Retail Sales (Jun), Industrial Production (Jun)
    Tuesday 17-Jul:
      Corporate:
        Earnings:
        • Pre-open: CMA, FHN, GS, JNJ, NEOG, OMC, SCHW, UNH, YUM
        • Post-close: ADTN, CSX, FULT, WTFC
      • IPO: CCB, CRNX
      Economic:
      • US: NAHB survey (Jul), Industrial Production (Jun), Fed Chairman Powell address Senate,
      • Europe: UK: ILO unemployment rate (May)
    Wednesday 18-Jul:
      Corporate:
        Earnings:
        • Pre-open: ABT, GWW, MS, MTB, NTRS, TXT, USB
        • Post-close: AXP, BPFH, BXS, CCI, CCK, CP,CN, EBAY, IBM, NDLS, PLXS, PTC UMPQ, URI
      • IPO: AFGL, ALLK, CNST, ESTA, MYFW, RUBY
      Economic:
      • US: Housing starts (Jun), Building Permits (Jun),
      • Europe: Euro-zone: CPI (Jun): UK: CPI (Jun)
    Thursday 19-Jul:
      Corporate:
        Earnings:
        • Pre-open: ADS, BBT, BK, DHR, DOV, DPZ, EWBC, FITB, KEY MBFI, PM, PPG, RCI.B.CN, RPM, SNA, TRV, TTS UNP, WBS,
        • Post-close: ASB, CE, COF, ETFC, ISRG, MSFT, PBCT, PYPL, SKX, SWKS, WAL
      • Analyst Meeting: FUL
      • IPO: TLRY
      • PDUFA: PFE, VRX (Xtandi)
      Economic:
      • US: Philly Fed Survey (Jul), Leading indicators (Jun)
      • Europe: UK: Retail sales (Jun)
      • Asia (Wed PM / Thurs AM): Japan: Trade Balance (Jun)
    Friday 20-Jul:
      Corporate:
        Earnings:
        • Pre-open: BHGE, CFG, GE, HON, KSU, BHGE CFG, SLB, STI, STT, SWK, VFC
      • Analyst Meeting: SCHW
      Economic:
      • Europe: Euro-zone: Current Account (May) Germany: PPI (Jun)
      • Asia (Thurs PM / Fri AM): Japan: CPI Core (Jun)




 


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Occasionally, an earnings report date could change, or could be incorrect. We rely on various sources including Street Account, Factset, and Bloomberg to compile this report.    

 

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