What Futures Traders Should Watch This Week
By John Thorpe, Senior Broker
The Week Ahead
In addition to the Northern Hemisphere’s Summer Solstice and Father’s Day celebrations this Sunday, the key futures market news for next week focuses again on the Middle East and the flow of oil through the straits of Hormuz, Additionally, the reaction to a “hawkish” Fed Chair Warsh’s comments this past Wednesday about clearly doing what is necessary to achieve price stability.
Is the smoke clearing in the Mid-East and the markets have a renewed sense of confidence?
The Memorandum of Understanding unwinding the Iranian nuclear program among 13 other points was signed by both President Trump and Iran’s President Masoud Pezeshkian. “The text of the Islamabad Memorandum of Understanding was finalized with the signatures of the presidents,” Baghaei told the news agency IRNA. “Now it is time to test the implementation of the agreement.”
Don’t let your guard down just yet, the fog continues, tune into the Sunday evening markets to witness reactions to the weekend news streams, manufactured or true.
Plan your trade and trade your plan!
Earnings Next Week:
· Mon. Quiet
· Tue. Fed-Ex, Carnival, KBHome
· Wed. Micron Technology, Paychex, KornFerry
· Thu. Darden Restaurants, Acuity Brands, McCormick, Commercial Metals.
· Fri. Quiet
FED SPEECHES: (all times CDT)
· Mon. Quiet
· Tues. Quiet
· Wed. Quiet
· Thu. Goolsbee 5:30 pm
· Fri. Quiet
Econ Data:
· Mon. Quiet
· Tue. ADP Employment Weekly, Redbook, S&P PMI, Richmond Fed,
· API Crude Stock Change
· Wed. Current Account Q1, New Home Sales, EIA Crude stock change,
· Thu. Core PCE, Durable Goods, GDP Q1 Final, Personal Income, Initial Jobless claims, EIA Nat Gas Stocks, KC Fed
· Fri. Retail Inventories, Michigan Consumer sentiment, Baker Hughes Oil Rig Count |
