M Notes: Mon, 7-27

LAST WEEK:   

Markets:  Unrest, and a clear response, around the Strait of Hormuz impacted Oil and Markets again last week. 

S&P roller coaster last week:  Down, Up a lot, Down, Down significantly, and Up a touch.

Fed Balance Sheet:  $6.76 Trillion.   

Housing:  New Home Sales were up +1.6% in June, and were down -5.6% Y/Y.  Sales were up in the Northeast, South and Midwest.  But were down in the West. 

Metals:  Gold finished the week at $4,071.  Silver finished the week at $59. 

National Debt:  $39.46 Trillion.    

------------------------------

THIS WEEK:

Focus of the week:  The Fed Meeting.  The Fed’s fifth FOMC Meeting of the year takes place tomorrow and Wednesday.   We’ll get their Announcement at 2pm on Wednesday, followed by the Fed Chair’s press conference at 2:30pm.  We continue to get a look at how the Fed will operate under Kevin Warsh's leadership. 

Calendar:  June’s Durable Goods Orders (Mon);  Fed meeting announcement, Fed Chair press conference (Wed); the first read on Q2 GDP, and the June PCE (Thu).   

Earnings:  Some of the companies reporting this week:  ADP, Airbus, Altria, Amazon, AnheuserBusch InBev, Apple, AstraZeneca, Boeing, Chevron, Coca-Cola, Corning, Eaton, ExxonMobil, Ferrari, General Dynamics, Mastercard, Meta, Microsoft, Procter & Gamble, Shell, Starbucks, and Visa.

* The Standard & Poor's 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general.    The Dow Jones Industrial Average is a price-weighted index of 30 actively traded blue-chip stocks.  The NASDAQ Composite Index is an unmanaged, market-weighted index of all over-the-counter common stocks traded on the National Association of Securities Dealers Automated Quotation System.  Yahoo! Finance, the Wall Street Journal, Investor’s Business Daily and Barron’s are several of the sources used for financial information. 

* The National Debt figure comes from usdebtclock.org.   

* Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.  Consult your financial professional before making any investment decision.  You cannot invest directly in an index.   Past performance does not guarantee future results. No strategy can assure a profit or protect against a loss.  Investments in the securities markets involve risk, such as loss of your principal.