This week: Economic releases, corporate earnings and GDP estimate
WEEKLY MARKET COMMENTARY |
The upcoming week in financial markets will be defined by a series of top-tier economic releases, a heavy slate of Q2 2017 corporate earnings and the Federal Open Market Committee rate decision.
On the economic front, releases include the first estimate of Q2 2017 gross domestic product (GDP), fresh data on housing, durable goods orders likely indicating a large increase due to orders for civilian aircraft at the June Paris air show, and a number of consumer confidence surveys. Key corporate earnings announcements from 125 firms such as Google, Facebook, Halliburton, Wynn, Amgen, Ford and Boeing round out the week. The U.S. Treasury will issue $26 billion in two-year notes, $15 billion in two-year floating rate notes, $34 billion in five-year notes and $28 billion in seven-year notes. Beyond the U.S., the Q2 2017 estimate of the Canadian GDP and a large number of euro-area flash Purchase Managers’ Indexes will be published throughout the week