Don’s Notebook July 27, 2018

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Report Notes:

  • GDP may have been soft in Q1, but today’s report shows a big second quarter. Consumer spending drove GDP higher in the second quarter, to a 4.1 percent annualized.
  • At 10 a.m. ET, the University of Michigan will issue its final July consumer sentiment index, expected to rise to 97.3 from the mid-month reading of 97.1
  • At 1pm ET, look for the Baker Hughes North American rig count which tracks weekly changes in the number of active operating oil & gas rigs.

Overnight Trading Notes:

  • MSCI Asia Pacific Index rose 0.4 percent
  • Japan’s Topix index closed 0.6 percent higher as easing global trade tensions continued to lift sentiment.
  • In Europe, the Stoxx 600 Index was up 0.3 percent at 5:45 a.m. as positive results from BT Group Plc helped the telecom sector.
  • S&P 500 futures were pointing to a gain at the open.

Earnings Notes:

  • Twitter, Exxon Mobil, Merck and Chevron (CVX) are this morning’s earnings notable announcements.
  • L’Oréal, Danone, Yahoo Japan, Weyerhaeuser, Colgate-Palmolive, Goodyear Tire, Moody’s, Phillips 66, and Synchrony Financial also scheduled to report.
  • There are no earnings scheduled after today’s closing bell
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