Week Ahead: What to Watch Out For + Trading Levels for August 8th 2023
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
The Week Ahead, by John Thorpe, Senior Broker
A sleepy week for market moving info EXCEPT!…. if you are trading the financial futures products you look for earnings reports and economic numbers to fuel the big moves you can profit ( or lose…) from, this week we have….
Well, the major earnings reports seem to be behand us but we still have companies that are proxies for gauging economic health, this week’s biggest one is UPS, on Tuesday before the open. Yellow trucking is bankrupt, what say UPS and it’s delivery wagons? I snipped this from Seeking Alpha The consensus EPS estimate is $2.50 and the consensus revenue estimate is $23.12 billion.
- Over the last 2 years, UPS has beaten EPS estimates 88% of the time and has beaten revenue estimates 63% of the time.
Fewer economic numbers this week but we have a whopper on Thursday early, July CPI will be released at 7:30 am CDT
PPI is on Friday morning and for you stalwart grain traders Friday @ 9:00 CDT WASDE, Crop production and USDA Supply and Demand , these numbers are critical to marketing efforts this time of year and could create large price swings call you broker and ask about grain options before the reports to take advantage of Friday Grain Volatility and beyond!
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