Next Week At A Glance
The US earnings season will reach a full head of steam next week, drawing attention away from trade wars and Trump antics, possibly. This week started well but last night proved a little disappointing.
There will be much anticipation come Friday next week when the US June quarter GDP first estimate is published. There is now firm belief 4% growth will have be achieved.
US data releases throughout the week include new and existing home sales and house prices, durable goods and consumer sentiment.
A flash estimate of US July manufacturing PMI is due on Tuesday alongside equivalents from Japan and the eurozone.
On that note, the ECB will meet next Thursday but given signs of slowing growth, no policy change is likely.
The UK will release its June quarter GDP on Thursday, just to add to the Brexit brouhaha.
Australia’s June quarter CPI numbers are due on Wednesday, and PPI on Friday, with June quarter export prices due in the middle.
On the local stock font, quarterly reports roll on and begin to merge with the very early stages of results season.
Production reports are due next week from Iluka Resources ((ILU)), St Barbara ((SBM)), Beach Energy ((BPT)), Fortescue Metals ((FMG)), Newcrest Mining ((NCM)), OceanaGold ((OGC)) and Sandfire Resources ((SFR)).
IOOF ((IFL)) will report quarterly funds flows.
Macquarie Group ((MQG)) holds its AGM on Thursday, at which next year’s guidance is typically first announced.
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