M Notes: Tue, 7-20
| Weekly Close: 7-17-26 | + (-) | % | |
|---|---|---|---|
| Dow30 | 52,146 | -491 | -0.9% |
| S&P500 | 7,458 | -117 | -1.5% |
| Nasdaq | 25,520 | -762 | -2.9% |
| R2000 | 2,962 | -16 | -0.5% |
| 10-year | 4.55 | -0.01 | -0.2% |
| Oil | 82.47 | +10.95 | +10.9% |
LAST WEEK:
Markets: Bumpy week. Consumer Inflation dropped. Housing and Retail Sales numbers were good. But Oil went back into the 80s.
S&P roller coaster last week: Down a lot, Up, Up, Down, and Down a lot.
Fed Balance Sheet: $6.74 Trillion.
Fed Chair: Kevin Warsh appeared before Congress, as the Fed Chair, for the first time last week. On Tuesday, Warsh appeared before the House. Even though the CPI dropped significantly that morning, Warsh wasn’t satisfied. On Wednesday, he appeared before the Senate. Similar messaging: prior Feds may have paid lip service to lowering Inflation, but didn't have enough action (or vision) to change it.
Housing: Starts were up +19.0% in June, and were up +3.5% Y/Y.
Inflation: Consumer Inflation dropped significantly with the latest June read. In May the number came in at +4.2%. Expectations were for the CPI to drop to +3.8% in June. It dropped to +3.5%. Wholesale Inflation dropped in a similar fashion. The May PPI came in at +6.5%. Expectations were for it to drop to +6.2% in June. It dropped to +5.5%. Good direction for both.
Metals: Gold finished the week at $4,023. Silver finished the week at $56.
National Debt: $39.43 Trillion.
Retail Sales: They were up +0.2% in June, and they’re up +6.7 Y/Y.
--------------------
THIS WEEK:
Focus of the week: It’s a light economic data week. Focus will be on Corporate Earnings. And the price of Oil.
Calendar: June’s New Home Sales (Fri).
Earnings: Some of the companies reporting this week: 3M, Alphabet, American Express, AT&T, Comcast, General Motors, IBM, Intel, Lockheed Martin, Novartis, Philip Morris, Tesla, Texas Instruments, TMobile, Union Pacific, and Verizon.
--------------------
* 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.