Earnings also a focus

The economic calendar is quiet once again today. The highlight will be Canada retail sales for May which will be released at the bottom of the hour. The expectations is for a 20% gain. That's the good news the bad news is that it comes off a -26.4% decline in April. Ex auto's the gain is expected to be 11.9% vs. -22% last month.

Also released at the bottom of the hour will be the Chicago Fed national activity index for June. This index is a gauge of overall economic activity and related inflationary pressures. The index is a weighted average of 85 indicators of national economic activity drawn from reduction in income, employment, personal consumption and housing, and sales and inventories. A reading of 0 indicates that the national economy is expanding at the historical trend rate of growth negative values indicate below average growth and positive values indicate above average growth. The expectations are for a gain of 4.0 vs. 2.61 in May. The index plunged to -17.89 in April which was a record low for the rebound last month to 2.61 which was a record high (at least going back to 2000).

Earnings this week will also be a focus. Coca-Cola reported disappointing earnings before the opening, but is positive on the future. It's stock in premarket is currently trading up 2.23%. Other big names today include snap, United Airlines, Lockheed Martin, and Texas Instruments. The figure day will be tomorrow when Microsoft, Tesla, Chipotle all report. On Thursday Intel and AT&T release. Finally on Friday American Express, Honeywell and Verizon are some of the big names on the release calendar.

Tuesday, July 21

  • Coca-Cola
  • Snap
  • United Airlines
  • Lockheed Martin
  • Texas Instruments

Wednesday, July 22

  • Microsoft
  • Tesla
  • Chipotle
  • Whirlpool
  • Biogen

Thursday, July 23

  • Intel
  • American Airlines
  • AT&T
  • Travelers
  • Hershey

Friday, July 24

  • American Express
  • Honeywell
  • Verizon
  • Schlumberger