Inflation numbers, Beige Book released next week

Monday

U.S.

Economic lookahead

Retail Sales (June)

Business Inventories (May)

Featured Earnings

Bank of America Corporation (NYSE: BAC) (Q2) EPS estimates of 64 cents, compared to 46 cents in the prior-year quarter.

First Defiance Financial Corp. (NASDAQ: FDEF) (Q2) EPS estimates of $1.02, compared to 82 cents in the prior-year quarter. In mid-June, the company’s Board of Directors authorized a stock split in the form of a share distribution of one share of common stock on each of the outstanding shares and treasury shares of common stock. The stock split is payable on July 12, to shareholders of record on July 2.

Netflix Inc. (NASDAQ: NFLX) (Q2) EPS estimates of 80 cents, compared to 15 cents in the prior-year quarter


Canada

Economic lookahead

Canada's International Transactions in Securities (May) Foreign investment in Canadian securities totaled $9.1 billion in April, up from $6.4 billion in March. At the same time, Canadian investors reduced their holdings of foreign securities by $652 million, on large sales of U.S. shares.

CREA Stats (June) Re-sales of Canadian homes fell 0.1% in May from April to the lowest level in more than five years, the Canadian Real Estate Association said.

Tuesday

U.S.

Economic lookahead

Industrial Production (June)

Housing Market Index (July)

Redbook (Weekly)

Featured Earnings

Comerica Incorporated (NYSE: CMA) (Q2) EPS estimates of $1.66, compared to $1.15 in the prior-year quarter

Fulton Financial Corporation (NASDAQ: FULT) (Q2) EPS estimates of 13 cents, compared to 26 cents in the prior-year quarter

Goldman Sachs Group Inc. (NYSE: GS) (Q2) EPS estimates of $4.72 compared to $3.95 in the prior-year quarter

Johnson & Johnson (NYSE: JNJ) (Q2) EPS estimates of $2.06 compared to $1.83 in the prior-year quarter


Canada

Economic lookahead

Monthly Survey of Manufacturing (May) Manufacturing sales fell 1.3% to $56.2 billion in April, following two consecutive monthly increases.

Wednesday

U.S.

Economic lookahead

Housing Starts (June)

Beige Book (June) This book is produced roughly two weeks before the monetary policy meetings of the Federal Open Market Committee. On each occasion, a different Fed district bank compiles anecdotal evidence on economic conditions from each of the 12 Federal Reserve districts.

EIA Petroleum Status Report (July 10-16)

Featured Earnings

 

American Express Company (NYSE: AXP) (Q2) EPS estimates of $1.04, compared to one dollar in the prior-year quarter. In late June, the company announced it was Increasing the Company’s quarterly dividend to 39 cents per share beginning with the third quarter 2018 dividend declaration, and was to repurchase up to $3.4 billion of common shares during the CCAR approval period of Q3’18 to Q2’19.

Alcoa Corporation (NYSE: AA) (Q2) EPS estimates of $1.56, compared to 62 cents in the prior-year quarter.

Badger Meter Inc. (NYSE: BMI) (Q2) EPS estimates of 40 cents, compared to 36 cents in the prior-year quarter.

eBay Inc. (NASDAQ: EBAY) (Q2) EPS estimates of 39 cents, compared to 34 cents in the prior-year quarter.

Canada

Featured Earnings

Rogers Communications Inc. (T.RCI.B) (Q2) EPS estimates of $1.04, compared to one dollar in the prior-year quarter.

West Fraser Timber Co. Ltd. (T.WFT) (Q2) EPS estimates of $2.83, compared to $2.20 in the prior-year quarter.

Kinder Morgan Canada Limited (T.KML) (Q2) EPS estimates of 13 cents, compared to 38 cents in the prior-year quarter.

Canadian Pacific Railway Limited (T.CP) (Q2) EPS estimates of $3.14, compared to $2.77 in the prior-year quarter.


Thursday

U.S.

Economic lookahead

Leading Indicators (June)

Jobless Claims (July 10-16)

Treasury Budget

Balance Sheet

Money Supply

Featured Earnings

Union Pacific Corporation (NYSE: UNP) (Q2) EPS estimates of $1.92, compared to $1.45 in the prior-year quarter.

The Travelers Companies Inc. (NYSE: TRV) (Q2) EPS estimates of $2.46, compared to $1.92 in the prior-year quarter.

PPG Industries Inc. (NYSE: PPG) (Q2) EPS estimates of $1.89, compared to $1.83 in the prior-year quarter.

Microsoft Corporation (NASDAQ: MSFT) (Q4) EPS estimates of $1.07, compared to 98 cents in the prior-year quarter.

Domino's Pizza Inc (NYSE: DPZ) (Q2) EPS estimates of $1.73, compared to $1.32 in the prior-year quarter.

Canada

Economic Lookahead

Employment Insurance (May) In April, 453,100 people received regular Employment Insurance (EI) benefits, down 15,900 (-3.4%) from March, continuing the downward trend that began in the fall of 2016.

Friday

U.S.

Featured Earnings

General Electric Company (NYSE: GE) (Q3) EPS estimates of 17 cents, compared to 28 cents in the prior-year quarter.

ManpowerGroup (NYSE: MAN) (Q2) EPS estimates of $2.35, compared to $1.82 in the prior-year quarter.

Honeywell International Inc. (NYSE: HON) (Q2) EPS estimates of $2.00, compared to $1.80 in the prior-year quarter. Last week, Honeywell announced that its UOP Russell business will provide a gas processing plant to Navitas Midstream Partners, LLC. The 200-million-cubic-foot-per-day nameplate capacity plant will remove natural gas liquids (NGLs) from natural gas produced from several counties in the Midland Basin.

Stanley Black & Decker Inc. (NYSE: SWK) (Q2) EPS estimates of $2.03, compared to $2.01 in the prior-year quarter.


Canada

Economic Lookahead

Consumer Price Index (June) CPI rose 2.2% on a year-over-year basis in May, matching the increase in April. On a seasonally-adjusted monthly basis, inflation was up 0.1% in May.

Retail Sales (May) Following three consecutive monthly increases, retail sales in April declined 1.2% to $49.5 billion.

Featured Earnings

Mainstreet Equity Corp. (T.MEQ) (Q3) EPS estimates for gain of 52 cents, compared to a loss of $1.15 in the prior-year quarter.