July 17th, 2023
Must-Know Reports Coming Up This Week
Here are the various reports that you need to know for the week ahead.
Monday / Tuesday – G20 Meetings – Finance Ministers and Central Bankers from 20 industrialized countries meet and discuss global finance policies.
Tuesday – Retail Sales – 8:30 am EST – The market is expecting an uptick in month-over-month core retail sales, going up from a 0.1% gain to a 0.4% gain. Since both the Consumer Price Index and Producer Price Index came in less than expected last week, it wouldn’t be surprising to see an uptick in retail sales since the job market remains resilient and inflation is dropping. This would be bullish for the markets and investor sentiment.
Thursday – Unemployment Claims – 8:30 am EST – With last week’s beat, it wouldn’t be surprising to see an uptick in claims this week. We saw 237k new claims last week and the market is looking for around 242k this week. Unless the number comes in much higher than expected, this report could give the market a push higher.
Thursday – Philly Fed Manufacturing Index – 8:30 am EST – A reading below 0 indicates contraction in the industry and this month’s reading is expected to be -10.2. While that is a negative number, it would be quite an improvement over last month’s -13.7 reading or April’s reading of -31.3.
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