Global Stocks Rise, S&P Pushes Above 3,000 As Earnings Season Begins

Zero Hedge | 7/15/2019 | Staff
hi09 (Posted by) Level 3
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A busy week for macro data and the official launch of Q2 earnings is starting off on the right foot, with global stocks higher around the globe...

... following the release of China's June/Q2 data dump, which saw GDP growth drop to 6.2%, the lowest on record, even as other key activity indicators such as retail sales, industrial output and fixed investment all miraculously rebounded, beating expectations.

S - P - E-mini - Futures - Stocks

S&P e-mini futures climbed alongside stocks in Europe and Asia at the start of a busy week for Federal Reserve speakers, corporate earnings and economic data, extending on last week’s gains to trade slightly higher on Monday and trading in record territory around 3,020 in the run up to the start of second-quarter earnings reports, beginning with Citigroup at 8am on Monday, whose shares are up 0.7% in premarket trade. It will be followed by other big banks such as JPMorgan, Goldman Sachsand Wells Fargo on Tuesday.

As companies start reporting quarterly results, investors will look for the impact of the long-drawn U.S.-China trade dispute on corporate profit. Other companies slated for this week include Bank of America, Netflix, Microsoft and Honeywell. Investors are bracing for the worst, with profits for the index expected to dip 2.0% year-over-year, the first quarterly decline in three years.

Week - Deluge - Fed - Speakers - Blackout

This week also sees a deluge of Fed speakers ahead of their blackout period from Saturday onwards. So, catch the last morsels of information while you can. Today we’ll hear from Williams in New York where he is due to make keynote remarks at a conference. Tomorrow Powell is due to speak at a Bank of France event in Paris while prior to that we’ll hear from Bostic, Kaplan and Bowman before Evans then speaks in the evening. On Thursday we’re then due to hear from Bostic and Williams again before Bullard...
(Excerpt) Read more at: Zero Hedge
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