Busy Week, but Virus News Remains Biggest Driver

Monday, July 27, 2020 4:31 PM | Bobby Raines

July 27, 2020 - The calendar for this week is very busy, which can make for interesting conditions in the market.

This is probably the peak week for earnings, which means there are tons of earnings press releases and conference calls released before and after each day's trading session. That data in turn spawns lots of new analyst upgrades and downgrades. Trying to keep track of all the news can be overwhelming during a normal quarter, which this, sadly, is not.

Other than the weak guidance we've written about a few times, there hasn't been too much to come out of earnings season yet. That could change this week with the likes of Apple (AAPL), Amazon (AMZN), Alphabet (GOOG) and other big names reporting this week. We have no reason to believe that this week's results will swing the market in one direction or another, but the companies in this week's batch of reporters have the firepower to get the market's attention where some of the other weeks this quarter maybe didn't.

Also on the docket this week is a Federal Reserve meeting. Other than tweaks to some of the emergency lending programs, we don't really expect much from this meeting. Which is not to say investors shouldn't pay attention. While we expect policy changes to be relatively minimal, the central bank's comments about the state of the economy could easily send the market in either direction.

Jerome Powell, the chairman of the Federal Reserve, will likely be speaking with advanced knowledge of both the second-quarter GDP report, which is scheduled to be released on Thursday, and the PCE inflation numbers which are scheduled for Friday.

This is still a market that is more likely to respond to coronavirus headlines than economic data from a month or more ago. That means the debate on Capitol Hill about the next round of economic rescue spending has as much or more potential to move markets than anything we've mentioned so far.

Senate Republicans are expected to unveil their plan Monday evening, but that document is merely a starting point for negotiations with the House, which passed a bill in May and potentially the White House as the House bill contains provisions Republicans have said they won't support, and the Senate bill is expected to contain measures that the House is unlikely to pass.

Economic Events this Week

Tuesday
  • 10:00 a.m. - Consumer Confidence
Wednesday
  • 10:00 a.m. - Pending Home Sales
  • 10:30 a.m. - EIA Crude Oil Inventories
  • 2:00 p.m. - FOMC Rate Decision
Thursday
  • 8:30 a.m. - Initial Claims
  • 8:30 a.m. - Q2 GDP
Friday
  • 8:30 a.m. - Personal Income/ Personal Spending
  • 8:30 a.m. - PCE Prices
  • 8:30 a.m. - Employment Cost Index

Earnings Reports this Week

Tuesday:

Before the bell: MMM, MO, ARCH, AWI, CNC, GLW, CMI, DHI, DTE, ECL, FBP, BEN, HOG, HUN, IVZ, IRDM, JBLU, LH, LW, MLM, MCD, MSCI, EDI, OMC, PFE, PII, RTX, ROK, ROP, SPGI, SHW, SSTK, TRU, WDR, CRC, After the bell: ACCO, AMD, AFL, AKAM AMGN, ASH, CAR, BXP, BYD, CHRW CB, CYH, DENN, DEXCM, EGP, EBAY, EQR, FEYE, FTV, THG, HA, HP, HNPR, KAI, MASI, MXIM, MDLZ, MRC, NCR, OKE, PKG, PEGA, PKI, PLT, RNR, STX, SBUX, TRMK, UNM, V,

Wednesday:

Before the bell: AAN, AER, ALKS, ANTM, ADP, BKU, BA, BSX, CCJ, CHEF, CME, DIN, DT, ETN, ENB, FSS, GDP, GRMN, GD, GE, GM, HES, MGLN, MTOR, MNRO, NSC, OC, PAG, ROL, R, ANY, SMG, SHOP, SIX, SPOT, FLOW, SHOO, SF, TROW, TT, UTHR, WNC, WING, After the bell: AEM, AGI, ALGT, AMP, NLY, AM, APA, ACGL, ADM, AVB, BLKB, BOOT, CERN, CAKE, CHDN, CGNX, CTSH, CXO, CCI, DUK, EQIX, FB, FICO FBHS, GNW, HOLX, HPP, KGC, LRCX, MANT, VAC, MAA, MC, ORLY, OII, PYPL, PPC, QRVO, QCOM, SCI, NOW, SFM, RGR, FTI, TDOC, TROX, URI, WERN, YUMC

Thursday:

Before the bell: AOS, AAON, AMT, BUD, APO, APTV, MT, AZN, BAX, BC, CARS, CI, CMCSA, CGEN, COP, COR, CROX, CFR, DAN, DBD, DNKN, DD, EXP, LLY, GNRC, GPC, GIL, GRUB, HBI, HGV, IP, ICE, K, KDP, KHC, MMP, MMC, MAS, MA, MD, TAP, MCO, NTCT, NOC, ODFL, OSK, OSTK, PBI, PG, RCL, RDS.A, SBH, SNDR, SIRI, SWK, TAL, TPX, TXT, UPS, VLO, GRA, WM, XEL, XYL, YUM, After the bell: AIMT, GOOG, ATUS, AMZN AAPL, ATR, AJG, TEAM, BGS, BRKS, BLDR, COG, CPT, CC, COLM, DVA, DECK, DLPH, DLR, LOCO, EA, EXAS, EXPE, FHI, FLEX, FND, FLS, F, FORM, FWRD, GILD, HIG, HTGC, HTH, HST, LOGM, MX, MTZ, MGM, MHK, MOH, POWI, PFPT, RDFN, SGEN, SHAK, SKYW, SM, SWN, SYK, TNDM, TEX, X, RARE, VRTX, WWR, XLNX, APO, ZEN

Friday:

Before the bell: ABBV, AON, BAH, CAT, CBOE, CHTR, CVX, CHD, CL, D, XOM, GR, ITW, JCI, LAZ, MCK, NWL, PSX, PINS, PEG, SNAP, SPB, SLCA, UAA, VFC, SPW, WY

Sector and Industry Sentiment

As part of the upgrade and redesigned InvestorsObserver, we are now calculating a proprietary Sentiment Score for stocks. This score looks at price action, volume trends and data from the options market when available to try to get a sense of how the market feels about a stock. We're replacing the lists of sectors and industries that have performed well or poorly over various time periods with a ranking of all eleven sectors in order of sentiment and then the top ten and bottom ten industries.

Sector Sentiment

Basic Materials

Utilities

Energy

Consumer Defensive

Financial Services

Consumer Cyclical

Industrials

Communication Services

Real Estate

Technology

Healthcare

Top Industries

Coking Coal

Auto & Truck Dealerships

Utilities - Regulated Electric

Restaurants

Uranium

Gold

Home Improvement Retail

Beverages - Wineries & Distilleries

Silver

Tobacco

Bottom Industries

Infrastructure Operations

Aluminum

Airports & Air Services

Publishing

Luxury Goods

Copper

REIT - Hotel & Motel

REIT - Diversified

Airlines

Drug Manufacturers - General

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