Movers and shakers!
By John Thorpe, Senior Broker
Today’s News:
Redbook Weekly US Retail Sales Headline Recap
**Redbook Weekly US Retail Sales were +4.7% in the first three weeks of July 2024 vs July 2023
**Redbook Weekly US Retail Sales were +4.5% in the week ending July 27 vs yr ago week
Updated: July 30, 2024 8:00 am
Case Schiller 20 US Metro-Area Home Prices Recap
**Case Schiller 20 US metro area home prices for May Y/Y: +6.8% from the year ago month
**Case Schiller 20 US metro area home prices for May M/M: +0.3% vs prior month
Updated: July 30, 2024 12:52 pm
OPEC
A number of OPEC+ sources cited by various media outlets say the OPEC+ joint minister meeting committee Thursday will very likely not make any changes to the cartel’s production figures. Oil this week has traded lower on low Chinese demand concerns, and waning effects of geopolitical risks. OPEC is planning on gradually phasing out 2.2 mln bpd of previous cuts starting in October and ending in Sept 2025.
Trade sources Tuesday afternoon estimated commodity funds as net sellers of 11,000 Chicago corn futures and 2,500 Chicago wheat futures. Funds were also said to be net sellers of 7,000 soybean and 4,000 soymeal contracts.
Israeli public broadcaster said the targeted senior Hezbollah commander was killed in today’s strike by Israeli forces
Watch Tomorrow:
ADP, Pending Home Sales, Chicago PMI ,FOMC and FOMC Q @ A
Earnings Meta, Qualcomm. after the close.
Daily Levels for July 31st, 2024
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* This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.