Upcoming Government Reports & Holidays
| 1-Aug | CONSTRUCTION SPENDING | 10:00 AM |
| 2-Aug | MANUFACTURERS’ SHIPMENTS, INVENTORIES… | 10:00 AM |
| 3-Aug | EMPLOYMENT SITUATION REPORT | 8:30 AM |
| 3-Aug | INTERNATIONAL TRADE REPORT | 8:30 AM |
| 3-Aug | U.S. INTERNATIONAL TRADE IN GOODS & SERVICES | 8:30 AM |
| 9-Aug | MONTHLY WHOLESALE TRADE: SALES & INVENTOR… | 10:00 AM |
| 9-Aug | PRODUCER PRICE INDEX REPORT | 8:30 AM |
| 9-Aug | WHOLESALE TRADE | — |
| 10-Aug | CONSUMER PRICE INDEX REPORT | 8:30 AM |
| 15-Aug | ADVANCE MONTHLY SALES FOR RETAIL & FOOD SERV | 8:30 AM |
| 15-Aug | MANUFACTURING & TRADE: INVENTORIES & SALES | 10:00 AM |
| 16-Aug | NEW RESIDENTIAL CONSTRUCTION | 8:30 AM |
| 23-Aug | NEW RESIDENTIAL SALES | 10:00 AM |
| 24-Aug | ADVANCE REPORT ON DURABLE GOODS | 8:30 AM |
| 28-Aug | ADVANCE ECONOMIC INDICATORS REPORT | 8:30 AM |
| 29-Aug | GROSS DOMESTIC PRODUCT | 8:30 AM |
Key Events That Moved the Market in July 2018
Above: Daily Chart of S&P 500 Index From July 1 – July 24, 2018
July 2
- Due to worsening trade war fears and signs of political instability in Germany, namely the rebellion against Chancellor Merkel that took place over the weekend, stock indices opened lower.
- In China, stock market declines entered bear market territory; their Shanghai blue chip index calling by 2.9%.
- ISG Mfg Index came out at 60.2, neating 58.5 expectations.
July 3
- News surrounding speculation that China’s central bank intervened in the FX market to support the yuan may have caused indices to open higher.
- The Shanghai blue chip index traded at a two-year low.
- US factory orders were expected to remain unchanged, inched up to 0.40% from its previous -0.80%.
July 5
- News that President Trump may ease tariffs on European autos in exchange for concessions may have contributed to lifting the markets.
- Jobless Claims rose by 3,000 to 231,000 in June; higher than estimates.
July 6
- Indices rose higher on non-farm payroll numbers which increased to a seasonally adjusted 213,000 in June, neating estimates of 195,000 new jobs.
- Average hourly earning rose by 0.20%, which was a disappointment given the expectation of 0.30%.
- Unemployment rate up to 4%, higher than the expected 3.8%
July 9
- Last weeks strong jobs report may have contributed to the markets’ strong opening across all three major US indices.
July 10
- With US corporate earnings in focus, it appears as if global trade concerns have taken the back seat.
- Q2 earnings reports begin on Friday the 13th. Analysts are predicting that S&P companies will have increased their earnings by 20%; higher than their April forecasts.
July 11
- Global trade tensions were back in focus as the US threatened to impose additional tariffs on Chinese goods worth $200 billion.
July 12
- Markets are focused on the start of Q2 earnings reports starting tomorrow.
- No detailed response from China on the $200 billion tariffs.
- Jobless Claims decreased by 18,000, beating economist expectations.
- Consumer prices increase by 0.1%, less than the expected 0.2%.
July 13
- Corporate earnings kicked off stronger than expected, yet the global trade wars may have dampened a bit of the optimism.
- China’s trade surplus over the US was reported at a record-high level of $29 billion, a fact that traders suspect may further intensify the trade dispute.
- Consumer sentiment came in lower than expected at 97.1.
July 16
- The drop in crude oil prices and the ongoing trade dispute may have hampered the bullish impact of strong corporate earnings.
- Investors seem to hesitate placing new positions until after President Trump’s Helsinki meeting with Russian President Vladimir Putin.
- China’s economy was reported to have grown by 6.7%.
- Among the S&P 500 companies that have reported earning, so far o9ver 85% have exceeded expectations.
July 17
- Indices advanced after Fed Chair Powell’s testimony despite its hawkish tone.
- Industrial production in June is up 0.6%; housing market index remains unchanged.
July 18
- News that housing starts declined by 12.3% hampered the market’s advance; as the largest drop since 2016, it disappointed economist expectations of a 2.2% decline.
- Q2 S&P earnings growth is now estimated at 21.2%, slightly higher than earlier estimates of 20%.
July 19
- No major economic reports today.
July 20
- Indices fell after President Trump announced that he is ready to impose levies on $500 billion worth of imports.
July 23
- Corporate growth expectations rose to 22%, as 90% of S&P 500 companies have now reported growth exceeding expectations.
- Existing home sales declined to 5.38 from an estimate of 5.44.
July 24
- Markets opened higher due to stronger-than-expected corporate earnings.
- Google-parent Alphabet’s earnings led the Dow up 150 points.
- Trump unveils $12 billion emergency aid for farmers hurt by the tariffs.
- Trump turns up the heat, tweeting “Tariffs are the greatest!”; referring to them as both hard negotiating tactic and a punitive measure.