A big week ahead for US earnings
Almost 50% of the SP500 (by market cap) will report 2Q results this week including some of the Magnificent Seven ($MSFT $META $GOOGL) but also $T $VZ $BA $F $KO $INTC $GM $MMM $GE $V $XOM $MCD $MA $PG and $BMY. Source: Earnings Whispers
S&P 500 technical analysis -> The $SPX has finally and for the first time since the bear market began in 2022 and bull market began on Oct. 2023, executed a bullish Monthly MACD Crossover.
Source: Seth Golden
Distressed US Offices Jump to $24.8 Billion, More Than Malls
Source: Bloomberg, C.Barraud
Fun fact is that Japanese inflation is now higher than that in the US for the first time since October 2015.
Source: Bloomberg, www.zerohedge.com
Ever so quietly under the covers of a quiet summer week, US Macro data surprised to the downside, with the biggest weekly drop since Feb 2019...
Source: Bloomberg, www.zerohedge.com
Credit Suisse raised its S&P 500 Year-End target to 4,700, becoming most Bullish Wall Street Bank
But as shown below, majority of Wall Street strategists have revised upwards their estimates for 2013. Source: TME, Bloomberg
The US debt ceiling before and after...
Source: Jim Bianco
What goes up must come down...
The collapse in US CPI over the past year is extreme, falling from 9.1% to 3%. BofA writes: "...since 1980, only in 8 cases had inflation fallen by more than 6% in a year, and only in France in 1990 from a starting point lower than 10%." Source: TME, BofA
