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M Notes:  Mon, 7-18 Thumbnail

M Notes: Mon, 7-18



Weekly Close:
7-15-2022
+ (-)
%
Dow
31,288
-50
-0.2%
S&P
3,863
-36
-0.9%
Nasdaq
11,452
-183
-1.6%
10-year
2.92
-0.18
-5.8%
Oil
97.58
-7.21
-6.9%


LAST WEEK:

Markets:  Friday’s rally paired back last week’s losses.  

S&P roller coaster last week:  Down, down, down, down, and up a lot.

Fed Balance Sheet:   $8.896 trillion.  

Inflation:  Consumer inflation (the CPI) grew from +8.6% up to +9.1%.  A surprise.   Wholesale inflation (the PPI) grew from +10.8% up to +11.3%.  Another surprise.  Both numbers are the highest in 40 years.  

Jobless claims:  The weekly number came in at 244,000.  The four-week average is 236,000.  

Radio:  Bill and I chatted about the new rise in inflation and the Fed’s likely response.  Here’s the link:  https://parker-wealth.com/bill-and-chris-podcasts/bill-and-chris-fri-7-15.  You can normally hear us most Friday mornings at 6:38a, 7:38a, and 8:38a on 1100AM.

Retail sales:  They were up +1.0% in June and are up +8.4% YOY.

----------

THIS WEEK:

Focus of the week:  Futures are higher as I write this.  Earnings season is back underway, and this week will likely be tied to that.  

Earnings:  Some of the companies reporting this week:  Abbott Labs, American Airlines, AT&T, Bank of America, CSX, Goldman Sachs, Halliburton, IBM, Philip Morris, PPG, Tesla, Twitter, Union Pacific, and United Airlines. 

Economic calendar:  Housing starts (Tue); existing homes sales (Wed); and jobless claims (Thu).