Don’s Notebook July 16, 2018


Federal Reserve Chair Jerome Powell will answer questions from the Senate Banking Committee in Washington in the first of two days of testimony to Congress.

  • Chairman Powell is expected to reiterate that the economy is in a “good place” while signaling there is no need to increase the expected pace of Fed tightening in 2018.

Home-builder confidence is expected to hold unchanged in July at a consensus 68. Readings in this report have been cooling this year though gains in new home sales have been strong.

In Overnight Trade:

  • The MSCI Asia Pacific Index was little changed, while Japan’s Topix index closed 0.9 percent higher after its first trading session of the week.
  • In Europe the Stoxx 600 Index was 0.1 percent higher at 5:45 a.m. as investors digested earnings data while waiting for Powell’s testimony.
  • Crude’s recent bad run continued this morning, with a barrel of West Texas Intermediate for August delivery trading at $67.94 earlier this morning.

Notable Earnings: JNJ, Comerica, United Health Groups, Prologis, CSX host quarterly earnings calls. Before the bell Goldman Sachs also announced their revenues grew 5.28% in FY 2017 but net income fell 42.07%

Advertisement #1 Trading Platform Technology - 8  years running!

Previous articleMarket Action Summary: 7/16/18
Next articleMonster Options Volume in New Media Darling
Dr. Don Pratl is Director of Trader Development and Education for TradeStation. He joined TradeStation in 2016 after holding similar roles with other online brokerages. Don’s long career in the financial services industry reflects expertise in administering trading and investment strategy programs for retail investors as well as financial services professionals. Since the 1980s, he has held various positions in areas including CBOE trading floor order execution, marketing, sales, personnel management, training and customer service. Don holds series 3, 4, 7 and 63 FINRA licenses, earned his Ph.D. in Organization and Management, and his M.A. and B.A. in Political Science. He has been an occasional adjunct college instructor since 2004 at a range of institutions, teaching undergraduate, graduate and doctoral students using in-class and online formats.