Could A Recession Just Be Delayed (And Not Avoided?)
What’s in Today’s Report:
- Could A Recession Just Be Delayed? (And Not Avoided)
- Weekly Market Preview: Fed/ECB/BOE Decisions This Week and Key Earnings Reports
- Weekly Economic Cheat Sheet: Fed Decisions and Inflation Readings In Focus This Week
Futures are modestly higher despite underwhelming economic data as markets look ahead to a busy week of central bank decisions, earnings and economic data.
Economically, data was not Goldilocks as the Euro Zone and UK flash PMIs missed estimates, falling to 48.9 vs. (E) 49.6 and 50.7 vs. (E) 52.2 respectively, and they reminded investors rate hikes can still slow growth.
Today focus will be on the July Flash Composite PMI (E: 53.1), as this is the first “big” number of July, and markets will want to see stability in the data to keep the Goldilocks rally going.
The major earnings reports occur later in the week but results we’ll be watching today include: DPZ ($3.04), NXPI ($3.29), WHT ($3.80), LOGI ($0.45) and we’ll be looking for any signs of margin compression due to on going disinflation.
