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M Notes: Mon, 7-25 Thumbnail

M Notes: Mon, 7-25



Week Close:
7-25-22
+ (-)%
Dow31,900+612+2.0%
S&P3,962+99+2.6%
Nasdaq11,834+382+3.3%
10-year2.76-0.16-5.5%
Oil64.64-2.94-3.0%


LAST WEEK:  

Markets:  They went higher last week in response to the latest earnings season.  Hopefully this continues. 

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

Fed Balance Sheet:   $8.899 trillion.  

Housing:  Housing starts were down -2.0% in June and are down -6.3% YOY.  Existing homes sales were -5.4% in June and are down -14.2% YOY.  

Jobless claims:  The weekly number came in at 251,000.  The four-week average is 240,000.  

Radio:  Bill and I chatted about the upcoming Fed meeting.  Here’s the link:  https://parker-wealth.com/bill-and-chris-podcasts/bill-and-chris-fri-7-22.  You can normally hear us most Friday mornings at 6:38a, 7:38a, and 8:38a on 1100AM.

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THIS WEEK:

Focus of the week:  All eyes will be on the fifth Fed meeting of the year.  As usual the question will be how much they will raise their interest rate?  How much further will they tighten their balance sheet?  And just what will Fed Chair Jerome Powell say Wednesday afternoon?   

Earnings:  Some of the companies reporting this week:  Alphabet (Google), Amazon, Apple, Boeing, Caterpillar, Chevron, Coca-Cola, Exxon Mobil, Ford, GE, GM, Intel, Kraft Heinz, Mastercard, McDonald’s, Merck, Microsoft, Pfizer, Procter & Gamble, Starbucks, Visa, and Whirlpool.

Economic calendar:  New home sales (Tue); FOMC statement, Fed Chair press conference, durable goods orders (Wed); the second read on Q2 GDP, jobless claims (Thu); and the latest PCE update (Fri).