I’ll post analysis later; as of 3PM or so there's not much change from prior Blog posts.
For now, here’s the news…
JOBLESS CLAIMS (Washington Post)
“The number of Americans who filed for unemployment
benefits last week rose from a three-month low, consistent with the Federal
Reserve’s view of a stronger job market. Jobless claims increased by 14,000 to
266,000 in the week ended July 23…” Story at…
https://www.washingtonpost.com/business/economy/weekly-jobless-claims-increase-in-week-ended-july-23/2016/07/28/0a7c7c84-54c3-11e6-88eb-7dda4e2f2aec_story.html
GDP-ADV (Bloomberg)
“The U.S. economy expanded less than forecast in the
second quarter after a weaker start to the year than previously estimated as
companies slimmed down inventories and remained wary of investing amid shaky
global demand. Gross domestic product rose at a 1.2 percent annualized rate
after a 0.8 percent advance the prior quarter…” Story at…
http://www.bloomberg.com/news/articles/2016-07-29/u-s-economy-grew-a-less-than-forecast-1-2-in-second-quarter
CHICAGO PMI (MarketWatch)
“A measure of Chicago-area economic activity retreated
only slightly in July after a strong gain in the prior month. The Chicago PMI
fell 1 point to 55.8…” Story at…
http://www.marketwatch.com/story/chicago-pmi-stays-at-high-level-in-july-2016-07-29
MICHIGAN SENTIMENT (CNBC)
“A measure of consumers' attitudes was slightly lower
this month. The Index of Consumer Sentiment hit 90 in July, the University of
Michigan said Friday.” Story at…
http://www.cnbc.com/2016/07/29/consumer-sentiment-for-july-2016-final-reported-by-the-university-of-michigan.html
EARNINGS (FACTSET)
- “With 63% of the companies in the S&P 500 reporting
earnings to date for Q2 2016, 71% have reported earnings above the mean
estimate and 57% have reported sales above the mean estimate...
- Earnings Growth: For Q2 2016, the blended earnings
decline is -3.8%..
- Earnings Guidance: For Q3 2016, 36 companies have
issued negative EPS guidance and 20 companies have issued positive EPS guidance…”
The above excerpted from Earnings Insight for 29 July
2016 from FACTSET.
