Market Multiple Table Chart (July Update)
What’s in Today’s Report:
- Market Multiple Table Chart (July Update)
- Why More Goldilocks Data Sent Stocks Higher Again Tuesday
Futures are little changed ahead of a busy day of earnings and despite more encouraging news on global disinflation.
UK CPI rose less than expected, gaining 0.1% vs. (E) 0.4% m/m and 7.9% vs. (E) 8.2% y/y, providing bullish investors more evidence that inflation is declining globally, although that good news was partially offset by a very slightly higher final look at EU HICP (up 5.5% y/y vs. 5.4%).
Today focus will turn to earnings and the key reports to watch are: TSLA ($ 0.82), NFLX ($2.83) and GS ($3.25), as those results will help set the tone for the start of earnings season (results from companies up to today have been fine, although it’s very, very early). Other notable earnings include: ASML ($4.97), USB ($1.13), UAL ($3.99), and IBM ($2.00).
Economically, the only notable number today is Housing Starts (E: 1.48M) but barring a shocking miss, that shouldn’t move the broader markets.
