Even though we’re past the peak of earnings season and heading into a quieter week for economic news with PMI and payrolls done for this month, there are still a number of events that could move the markets this week.

Trade relations between the US and China could capture the spotlight. President Trump postponed an announcement of potential trade related actions against China but this could come back any time, perhaps after China announces its trade figures. China trade data tends to impact trading in commodities, resource stocks and resource currencies.

Crude oil may remain active through the week with OPEC and Non-OPEC countries discussing compliance with their program of production cuts. Meanwhile the usual inventory reports may provide an indication of supply/demand trends outside of OPEC and Russia.

We’re past the peak of earnings season but even though many US large caps and big tech names are done, there are a ton of reports due from small and mid-cap companies. The reaction to these reports may indicate whether the bull market of recent months has any legs left or not.

It’s a big week for earnings from Canadian companies, headlined by the big insurers on Wednesday. Some US life insurers have put up really big numbers this quarter so we will see if this spills over into Canada as well. Valeant results (due Tuesday) often spark trading activity while guidance from Canadian Tire Thursday and Magna on Friday may also attract interest from traders in the wake of last week’s disappointing US auto sales.

The big day for US earnings in Thursday with the first set of numbers from major retailers led by Macys and Nordstrom following a quarter that saw a ton of store closures. Snap and Nvidia results could attract attention from technology traders.

Economic/Political news (North America time):

TBA                            President Trump could announce trade sanctions against China at any

                                    time this week (or not)

Monday                       Canada holiday

                                    OPEC/Non-OPEC meeting on compliance with production quotas

                                    FOMC Kashkari speaking

Monday evening       China trade balance

Tuesday                      Canada housing starts

                                    Germany trade balance

Tuesday evening         China inflation

Wednesday                 US DOE energy inventories

Wednesday evening    RBNZ interest rate     1.75% no change expected

Thursday                     Canada new house prices

                                    US producer prices

                                    FOMC Dudley speaking

                                    UK trade balance, industrial production

Thursday evening        NZ manufacturing PMI

Friday                          US consumer prices

                                     FOMC Kaplan, Kashkari speaking

 

Earnings Reports:

 

Monday                       CBS

Tuesday                       Walt Disney

                                     Valeant Pharmaceuticals                                  

Wednesday                 Manulife Financial

                                    Sun Life Financial

                                    Agrium

Thursday                     Canadian Tire

                                     Macy’s

                                    Nordstrom

                                    Nvidia

                                    Snap

Friday                          Magna International

                                    Telus

 

 

 

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