Don’s Notebook July 27, 2018

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Report Notes:

  • GDP may have been soft in Q1, but today’s report shows a big second quarter. Consumer spending drove GDP higher in the second quarter, to a 4.1 percent annualized.
  • At 10 a.m. ET, the University of Michigan will issue its final July consumer sentiment index, expected to rise to 97.3 from the mid-month reading of 97.1
  • At 1pm ET, look for the Baker Hughes North American rig count which tracks weekly changes in the number of active operating oil & gas rigs.

Overnight Trading Notes:

  • MSCI Asia Pacific Index rose 0.4 percent
  • Japan’s Topix index closed 0.6 percent higher as easing global trade tensions continued to lift sentiment.
  • In Europe, the Stoxx 600 Index was up 0.3 percent at 5:45 a.m. as positive results from BT Group Plc helped the telecom sector.
  • S&P 500 futures were pointing to a gain at the open.

Earnings Notes:

  • Twitter, Exxon Mobil, Merck and Chevron (CVX) are this morning’s earnings notable announcements.
  • L’Oréal, Danone, Yahoo Japan, Weyerhaeuser, Colgate-Palmolive, Goodyear Tire, Moody’s, Phillips 66, and Synchrony Financial also scheduled to report.
  • There are no earnings scheduled after today’s closing bell
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Dr. Don Pratl is Director of Trader Development and Education for TradeStation. He joined TradeStation in 2016 after holding similar roles with other online brokerages. Don’s long career in the financial services industry reflects expertise in administering trading and investment strategy programs for retail investors as well as financial services professionals. Since the 1980s, he has held various positions in areas including CBOE trading floor order execution, marketing, sales, personnel management, training and customer service. Don holds series 3, 4, 7 and 63 FINRA licenses, earned his Ph.D. in Organization and Management, and his M.A. and B.A. in Political Science. He has been an occasional adjunct college instructor since 2004 at a range of institutions, teaching undergraduate, graduate and doctoral students using in-class and online formats.