A slow week in economic exporting with only one major report: Housing starts on Wednesday at 8:30 a.m. New York time.
Leading indicators (in descending order of importance):
The interest rate spread between 10-year Treasuries and the federal funds rate, reported continually during market hours.
The M2 money supply, at 4:30 p.m. Thursday.
The S&P 500 index, reported continually during market hours.
Average weekly initial claims for unemployment, from the jobless claims report at 8:30 a.m. Thursday.
Building permits for new private homes from housing starts at 8:30 a.m. Wednesday.
Events arranged by day:
Monday: The Empire State manufacturing survey of business conditions in New York at 8:30 a.m.
Tuesday: Import and export prices at 8:30 a.m., the Homebuilders’ housing market index at 10 a.m. and the Treasury Department international capital report at 4 p.m.
Wednesday: Housing starts at 8:30 a.m. and petroleum inventories at 10:30 a.m.
Thursday: Jobless claims and the Philadelphia Fed’s business outlook survey of conditions in the mid-Atlantic states, each at 8:30 a.m. ,and the M2 money supply at 4:30 p.m.
I also keep an eye on the Baltic Dry Index, updated daily, and the 5-year implied inflation rate which is the difference between the yields on 5-year U.S. Treasury notes and 5-year Treasury inflation protected securities (TIPS).
A summer silence from the Federal Reserve glitterati: No appearances on the calendar.
By Tim Bovee, Portland, Oregon, July 15, 2017
Tim Bovee, Private Trader tracks the analysis and trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.
No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decisions for his or her own account, and take responsibility for the consequences.
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