Preview for the week Monday 6 July to Friday 10 July, 2015
Economic Data
Monday (6 July) :
- ISM Services : 56.3 (Prior 55.7)
- Trade Balance : -$42.0B (Prior -$40.9B)
- JOLTS - Jobs Openings : (Prior 5.367M)
- Consumer Credit : $17.6B (Prior $20.5B)
- MBA Mortgage Index : (Prior -4.7%)
- Crude Inventories : (Prior 2.386M)
- FOMC Minutes
- Initial Claims : 271K (Prior 281K)
- Continuing Claims : 2210K (Prior 2264K)
- Natural Gas Inventories : (Prior 69 bcf)
- Wholesale Inventories : 0.3% (Prior 0.4%)
Earnings Highlights
Monday (6 July) :
BMO - None
AMC - SHLM
BMO - None
AMC - SHLM
Tuesday (7 July) :
BMO - MSM
AMC - TCS HCSG
Wednesday (8 July) :
BMO - None
AMC - AA HGR WDFC
Thursday (9 July) :
BMO - PEP SYRG WBA
AMC - CUDA HELE PSMT VOXX ZEP
Friday (10 July) :
BMO - None
AMC - None
Summary
As of Monday this morning, it is confirmed that Greece's referendum result turned out to be "No" vote to the bailout package. This is perceived as a rather hawkish news as the futures take a big hit with a huge gap down and Asia markets are mostly in red too. Meanwhile in China, we have seen quite some downside in the Shanghai Composite. As a result, the PBOC is going to inject more emergency funds to boost the depressing market.
Market was pretty much in a neutral state when it closed on Thursday last week. I reckon the Grexit is likely to give the market some downside catalyst. After all the bears are somewhat having the leadership. On Wednesday, we are going to see the FOMC minutes. That will give us another look on the Fed's decision to raise rates by end of this year.
As of Monday this morning, it is confirmed that Greece's referendum result turned out to be "No" vote to the bailout package. This is perceived as a rather hawkish news as the futures take a big hit with a huge gap down and Asia markets are mostly in red too. Meanwhile in China, we have seen quite some downside in the Shanghai Composite. As a result, the PBOC is going to inject more emergency funds to boost the depressing market.
Market was pretty much in a neutral state when it closed on Thursday last week. I reckon the Grexit is likely to give the market some downside catalyst. After all the bears are somewhat having the leadership. On Wednesday, we are going to see the FOMC minutes. That will give us another look on the Fed's decision to raise rates by end of this year.
Direction for Monday 6 July, 2015: Down
Direction for the week Monday 6 July to Friday 10 July, 2015: Down
Direction for the week Monday 6 July to Friday 10 July, 2015: Down
2015 Daily Directional Accuracy: 60/101 (59.41%)
2015 Weekly Directional Accuracy: 15/24 (62.50%)
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