Are Stock Vigilantes Coming to this Market?
What’s in Today’s Report:
- Are Stock Vigilantes Coming to this Market?
- Weekly Market Preview: Do tariffs start to boost inflation this month?
- Weekly Market Preview: Important inflation and growth updates this week.
Futures are modestly lower following more tariff threats over the weekend.
President Trump announced 30% tariffs on the EU and non-USMCA goods from Mexico starting August 1st, although the modest decline in markets still implies investors think tariff rates will be negotiated lower ahead of the deadline.
Economically, the only notable number overnight was Chinese exports, which beat expectations (5.8% vs. (E) 5.0%).
This week is an important one from an economic standpoint as we’ll get important updates on inflation (via CPI & PPI) and growth (via retail sales), but the week starts quietly as there are no notable economic reports today.
On earnings, the Q2 reporting season begins to heat up this week via big bank earnings, although today the only notable report to watch is FAST ($0.28).
