Don’s Notebook June 25, 2018

673

New home sales have been housing’s central strength and unexpected weakness in today’s report would raise new questions over the sector’s contribution to the 2018 economy.

  • There has been a solid upward trend for new home sales and analysts expect a slight increase in May to a 665,000 annualized rate vs 662,000 in April.

Overnight Markets:

  • The MSCI Asia Pacific Index fell 0.8 percent and Japan’s Topix index closed 1 percent lower as trade concerns and worries about auto-tariffs weighed on markets.
  • In Europe, the FTSE 100, DAX, CAC 40 and Stoxx 600 Indexes are all priced lower with trade again being the major drag on stocks following a report from Germany’s Ifo institute.
  • S&P 500 futures pointed to a loss at the open, the 10-year Treasury yield was at 2.882 percent and gold was lower.

There are a few economic reports that may be of interest and there are also several housing reports. Expected earnings continue to be slow.

  • Jun 25: New Home Sales
  • Jun 26: Consumer Confidence
  • Jun 27: Durable Goods
  • Jun 27: International Trade
  • Jun 28: Jobless Claims
  • Jun 28: GDP
  • Jun 29: Personal Income
  • Jun 29: Consumer Sentiment

Have a TradeStation week!

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