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Weekly Market Intro – turbulent period for Wall Street stocks

weekly market intro

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The markets are passing through one of the most turbulent periods in their history with economics and geopolitics news affecting the investors’ sentiment.

The main Wall Street indexes ended last week with a sharp decline after President Donald Trump raised concerns about US-China trade relations with the announcement of new tariffs. The Wall Street stocks were hit hard. For the week, the S&P 500 and Nasdaq are down by 3.1% and 3.9%, respectively, which is their biggest weekly decline since the beginning of the year. The blue-chip index Dow Jones recorded its second-worst week of the year with a 2.6% decline.

The new week starts with optimism and expectations for strong economic and business data. The earnings season is at the final phase, but some major companies are expected to publish their financial reports.

Upcoming economics data

On Monday, August 5, the day will start with Australian Commonwealth Bank Composite and Services PMI for July with expectations for growth to 52.1 and 52.3 points, respectively. In Japan will be published Markit Services PMI for July, while in France will be released a data on nonfarm payroll, individual investment and PMI. Moreover, the Purchasing Managers’ Index will be published for Italy, Germany, Eurozone, the UK and end the end of the day for the US. The investors will also focus on the US ISM nonmanufacturing index.

On Tuesday, August 6, will be published the trade balance in Australia, while the central bank of the country will announce its interest rates decision. In Japan will be published the leading economic index and coincident index. Later during the day will be published factory orders in Germany and the foreign currency reserves in Switzerland. In the US will be published the Redbook index, JOLTS job openings and API weekly crude oil stocks. The chief executive officer and 12th president of the Federal Reserve Bank of St Louis, James Bullard, will deliver a speech.

On Wednesday, August 7, Reserve Bank of Australia will have a monetary policy statement. In Germany will be published the industrial production data, while in France will be released the trade balance, including exports and imports. During the day will be released the EIA crude oil stocks and consumer credit change in the US.

On Thursday, August 8, investors will focus on the trade balance in China, as well as important foreign bond investment and bank lending in Japan. The Eurozone will release its economic bulletin. In the US will be published the initial jobless claims and wholesale inventories.

On Friday, August 9, will be published the data on Japanese GDP, as well as the Chinese consumer price index. In Europe will have various economic data, including Swiss unemployment, German trade balance, French industrial output and etc. In the UK will be released the data on industrial and manufacturing production, as well as the Gross Domestic Product for Q2. At the end of the week, the investors will focus on the Producer Price Index for July.

Upcoming earnings reports

On Monday, August 5, the investors will focus on financial statements of Amerigas Partners LP, Black Stone Minerals LP, the orange groves company Alico Inc, Parker Drilling Co, Sears Holdings Corp, and Jacobs Engineering Group. The key events for the day will be earnings reports of GW Pharmaceuticals and the hotel chain Marriott International.

On Tuesday, August 6, will be published the financial statement of more than 360 public companies around the world with the major focus being on pharmaceutical giant Allergan, asset manager Apollo Investment, engineering firm AECOM, Walt Disney, Chesapeake Energy, and Discovery Inc.

On Wednesday, August 7, the markets will focus on earnings reports of Bain Capital Specialty Finance, Star Bulk Carriers, Fox Corp, CVS Health, and TripAdvisor Inc.

On Thursday, August 8, will be published the earnings reports of Air Lease Corp, Mesa Air Group and Bp Midstream Partners. Important financial statement during the day will be BlackRock TCP Capital Corp, media giant News Corp, Norwegian Cruise Line Holdings, business directory service Yelp Inc, Viacom Inc. The key event for the day will be the financial report of Uber Technologies.

On Friday, August 9, will be released the report of Overseas Shipholding Group and US Concrete Inc.