Hey team, we’re gearing up for a busy week with some heavyweight companies set to announce quarterly earnings, along with the release of key inflation numbers.
Let’s see what’s ahead of this market.
Impact Snapshot
CPI Inflation - Tuesday
PPI Inflation - Wednesday
Retail Sales - Thursday
Unemployment Claims - Thursday
Consumer Sentiment - Friday
Key Earnings: JPM 0.00%↑ BAC 0.00%↑ C 0.00%↑ WFC 0.00%↑ GS 0.00%↑ MS 0.00%↑ NFLX 0.00%↑ TSM 0.00%↑ BLK 0.00%↑
Macro Viewpoint
US stocks fell modestly on the week in a relatively news-less week filled with on again / off again tariff announcements and a soft start to the 2Q earnings season that was largely constructive.
Financial markets, which have shown increasing insensitivity to tariff threats from the US, will face a test at the Monday open after President Donald Trump declared a 30% rate for the European Union and Mexico effective Aug. 1.
Economic data will include the June consumer and producer price indexes, as well as June retail sales.
Wall St. Prime Intel
Equity positioning has just approached neutral which means that it is still vulnerable to negative catalysts. The market has not treated the recent tariff escalation as a negative catalyst at all, as it was very predictable, with the expectation that a relent will come eventually.
However, the lack of an equity selloff means other forms of negative feedback might have to be relied upon for a relent. This sets up a trip hazard and with positioning at neutral, a true negative catalyst will see equities react.
📰 In today’s Prime Intelligence we cover the latest on:
Institutional Positioning
Systematic strategy positioning (CTAs, Vol-control funds)
Technicals
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