Slight increases expected in personal income and spending
WEEKLY MARKET COMMENTARY |
The upcoming week in financial markets will observe a heavy slate of first-tier data, corporate earnings releases and further hints out of Washington D.C. at whatever “Plan B” is related to tax reform.
Investors will get fresh information on the housing sector, income, spending, national and regional manufacturing conditions, the pace of firings in the labor market and the monthly estimate of hiring by the Bureau of Labor Statistics to close out the week. In addition, the corporate sector will publish 105 Q2 2017 earnings estimates featuring Apple, Kellogg, Mondelez and Tesla, just a few of the corporate bellwether’s that will drive asset pricing this week.
The Federal Reserve (Fed) will see a light summer schedule with the Cleveland Fed’s Loretta Mester and the San Francisco Fed’s John Williams addressing the public this week. Global investors will observe the Canadian employment and trade estimates for June on Friday, Aug. 4, the Bank of England rate decision on Thursday, Aug. 3, euro area Q2 2017 gross domestic product on Tuesday, Aug. 1, and the Royal Bank of Australia’s monetary policy decision, also on that same day.
