New ETFs for Your Watchlist (July Launches)

What’s in Today’s Report:

• New ETFs for Your Watchlist (July Launches)
• Chart – Home Sales Fall Amid Elevated Prices

Futures are slightly lower on weak software company guidance ahead of key inflation data and NVDA earnings today.

INTU beat earnings and revenue estimates, but forward guidance fell short of lofty expectations which is dragging software stocks and the broader tech complex lower ahead of the bell.

Today, focus will be on economic data early with the Fed’s preferred measure of inflation, the Core PCE Price Index (E: 0.2% m/m, 3.3% y/y) due to be released before the open. Additionally, Durable Goods Orders (E: 0.5%) and Q2 GDP (E: 1.5%) will be released this morning, shedding light on the health of U.S. growth and demand metrics.

Later in the day, the Treasury will hold a 4-Month Bill auction (11:30 a.m. ET) and a 5-Yr Note auction (1:00 p.m. ET) and the Fed’s Barkin will speak leading into the lunch hour (11:45 a.m. ET).

Finally, focus will shift to one of the seasons most important earnings releases due after the close with NVDA ($2.09) results looming large. Other names reporting today include: KSS ($0.55), WSM ($2.05), CRM ($2.35), CRWD ($0.05), OKTA ($0.44), and HPQ ($0.66), but again NVDA will be the key report to watch.