The week ahead: July 13-18

Monday, July 13:

  • Chinese exports probably expanded in June following three months of declines. The nation’s trade surplus may have shrunk and imports likely fell.
  • The OPEC Monthly Oil Market Report is expected to include the organization’s first forecasts for 2016.
  • The U.S. Energy Information Administration releases its monthly Drilling Productivity Report, outlining the latest outlook for shale.
  • Puerto Rico officials are scheduled to meet with creditors in New York to discuss a restructuring plan for the junk-rated commonwealth as it falls further into a fiscal crisis.
  • Trade talks. The U.S. and European Union hold their 10th round of negotiations on the planned Trans-Atlantic Trade and Investment Partnership, or TTIP, in an effort to have most of a draft deal ready by year-end.
  • ECONOMY: U.S. budget statement (June), Serbia CPI (June).

Tuesday, July 14:

  • Sales at U.S. retailers probably climbed in June for a fourth straight month, boosted by job gains and stable prices at the gas pump, economists forecast the Commerce Department will report
  • ECONOMY: U.S. import price index (June), NFIB U.S. small business optimism (June), U.S. business inventories (May), Brazil retail sales (May), Teranet Canada home prices (June), Singapore GDP (second quarter), U.K. inflation (June), German ZEW index (July), euro-area industrial production (May), Bulgaria CPI (June).
  • EARNINGS: Johnson & Johnson, JPMorgan Chase & Co., Fastenal Co., Wells Fargo & Co., CSX Corp., Yum! Brands Inc., SEB AB.

Wednesday, July 15:

  • The Bank of Japan will announce monetary policy after a two-day meeting in Tokyo. The central bank will also update growth and inflation forecasts, with its meeting typically ending at about midday and followed by a press conference with Governor Haruhiko Kuroda.
  • China may say second-quarter economic growth slid to 6.8 percent, the slowest since 2009, as a stock-market plunge and property slump weighed on the world’s second-largest economy. The country will also announce industrial production, fixed-asset investment and retail sales data for June.
  • The European Commission will publish a package of documents on climate and energy policies, including a draft law seeking to bring in stricter carbon targets for 2030 and a policy paper on empowering consumers in the energy market.
  • Industrial production in the U.S. probably climbed in June, reflecting a weather-driven increase in utility output, economists project the Federal Reserve will report. Production at factories probably barely improved, the data may also show.
  • The Bank of Canada may leave its benchmark interest rate unchanged at 0.75 percent, according to the median estimate of economists surveyed by Bloomberg News. Eleven of the 26 economists polled as of July 9 see the central bank cutting the rate by a quarter point to 0.5 percent.
  • The U.S. Energy Information Administration releases its U.S. oil inventory report.
  • ECONOMY: U.S. MBA mortgage applications (weekly), U.S. producer prices (June), U.S. Empire State manufacturing (July), U.S. Fed’s Beige Book, Argentina inflation (June), Canada existing home sales (June), South Korea unemployment (June), U.K. unemployment (May/June), South Africa retail sales (May), Ghana CPI (June), Israel CPI (June), Turkey unemployment (April), Croatia CPI (June), Poland CPI (June), Russia may report industrial production (June).
  • EARNINGS: U.S. Bancorp, BlackRock Inc., Bank of America Corp., Kinder Morgan Inc., Netflix Inc., Intel Corp., PNC Financial Services Group Inc., Delta Air Lines Inc., Storebrand ASA.

Thursday, July 16:

  • European Central Bank policy decision. The ECB’s Governing Council meets for a scheduled monetary-policy meeting.
  • ECONOMY: U.S. jobless claims (weekly), U.S. Bloomberg consumer comfort (weekly), U.S. Philadelphia Fed manufacturing (July), U.S. NAHB homebuilder sentiment (July), Net foreign purchases of U.S. securities (May), New Zealand CPI (second quarter), euro-area inflation (June), Nigeria CPI (June), Israel GDP (first quarter), Russia may report industrial production (June), Slovakia CPI (June), Slovenia unemployment (May), Russian gold and foreign currency reserves (July 10).
  • EARNINGS: Blackstone Group LP, BB&T Corp., PPG Industries Inc., Charles Schwab Corp., UnitedHealth Group Inc., EBay Inc., Sherwin-Williams Co., Goldman Sachs Group Inc., Citigroup Inc., Mattel Inc., Schlumberger Ltd., Google Inc., Philip Morris International Inc., Advanced Micro Devices Inc., Swedbank AB, Nordea Bank AB.

Friday, July 17:

  • U.S. consumer prices probably rose in June as the cost of food and fuel increased, economists forecast a Labor Department report will show. Core inflation, which strips out food and energy, is hovering close to the Federal Reserve’s goal.
  • U.S. housing starts probably climbed in June after falling a month earlier, indicating slow progress in the industry, economists project the Commerce Department will report.
  • ECONOMY: U.S. Michigan consumer sentiment (July preliminary), Canada CPI (June), ECB survey of professional forecasters, Poland industrial output (June), Poland retail sales (June), Russia retail sales (June), Russia unemployment rate (June), Ukraine industrial production (June).
  • EARNINGS: Honeywell International Inc., SunTrust Banks Inc., Comerica Inc., General Electric Co., Kansas City Southern, Volvo AB, Electrolux AB, Kone Oyj.

Saturday, July 18:

  • China’s statistics bureau will announce June property prices. Home prices fell in fewer cities for a third month in May as buyer confidence returned after property curbs were eased and interest rates fell.



Categories: Equity Capital Markets

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