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      report by BMO Global Asset Management
      This piece is approved to use with clients.

      Weekly Market Snapshot: July 24, 2020

      Jul 27, 2020

      Market related news for the week ending July 24, 2020

      • Monday the Wall Street Journal reported Chevron is close to a deal to buy Noble Energy for close to $5 billion.
      • Monday mortgage rates fell below 3% for the first time since tracking began in 1971.
      • Tuesday Ebay announced it was selling its classifieds business to Norway’s Adevinta for $9.2 billion in cash and stock.
      • Tuesday the Wall Street Journal reported Boeing’s 737 Max may not return until 2021, because the FAA has decided to ask for public comments before finalizing software and hardware changes.
      • Wednesday the U.S. State Department ordered the closure of the Chinese consulate in Houston. The U.S. dollar rose above the key 7 level against the Chinese yuan.
      • Thursday Tesla stock was up on news of its fourth quarterly profit, paving the way for inclusion in the S&P500
      • Friday China ordered the U.S. to close its consulate in the city of Chengdu, in retaliation for Washington forcing Beijing to leave its mission in Houston.
      • Goldman Sachs agreed to a $3.9 billion settlement with the Malaysian government Friday, over the multi-billion dollar 1MDB scandal.
      • Tuesday: Chicago Fed National Activity Index for June was 4.11, up from May’s 3.50.
      • Wednesday: Existing Home Sales for June were 4.87 million, up from May’s 3.91 million.
      • Thursday: Initial Jobless Claims for week 7/18 were 1.42 million.
      • Friday: Markit Manufacturing PMI (flash) for July was 51.3, up from June’s 49.8.
      • Friday: Markit Services PMI (flash) came in at 49.6, up from June’s 47.9.
      • Friday: New Home Sales for June were 776,000, better than expected and up from May’s 682,000.

      Looking ahead: Economic news for the week ending July 31, 2020

      • Monday: Durable Goods Orders for June at 8.30am.
      • Tuesday: Case-Shiller National Home Price Index for May at 9.00am.
      • Tuesday: Consumer Confidence Index for July at 10.00am.
      • Wednesday: Pending Home Sales for June at 10.00am.
      • Wednesday: FOMC announcement at 2.00pm.
      • Thursday: GDP for Q2 at 8.30am.
      • Thursday: Initial Jobless Claims for week 7/25 at 8.30am.
      • Friday: Consumer Spending for June at 8.30am.
      • Friday: Core Inflation for June at 8.30am.
      • Friday: Chicago PMI for July at 9.45am.
      • Friday: Consumer Sentiment Index for July at 10.00am.
      View Disclosure

      This website is for informational purposes only and is not intended to provide a complete description of BMO Global Asset Management’s products or services. Past performance is not indicative of future results. It should not be construed as investment advice or relied upon in making an investment decision. Information on this website does not constitute an offer for products or services, or a solicitation of an offer in any jurisdiction in which such solicitation or offer would be unlawful. Products and services can only be offered by appropriate representatives of the respective manager. Notice to residents of the United Kingdom: For the avoidance of any doubt, the information on this website does not constitute an offer for products or services to persons in the United Kingdom. 

      BMO Asset Management Corp. is the investment adviser to the BMO Funds. BMO Funds are distributed by Foreside Financial Services, LLC. 

      All investments involve risk, including the loss of principal. 

      Foreign investing involves special risks due to factors such as increased volatility, currency fluctuation and political uncertainties. 

      Investors should carefully consider the investment objectives, risks, charges and expenses of the BMO Funds. This and other important information is contained in the prospectuses and/or summary prospectuses, which can be obtained by calling 1-800-236-3863. Please read carefully before investing. 

      BMO Global Asset Management is the brand name for various affiliated entities of BMO Financial Group that provide investment management and trust and custody services. Certain of the products and services offered under the brand name BMO Global Asset Management are designed specifically for various categories of investors in a number of different countries and regions and may not be available to all investors. Products and services are only offered to such investors in those countries and regions in accordance with applicable laws and regulations. BMO Financial Group is a service mark of Bank of Montreal (BMO). 

      BMO Asset Management U.S. consists of BMO Asset Management Corp., BMO Asset Management (Canada)® includes BMO Asset Management Inc. 

      BMO Taft-Hartley Services and BMO Trust and Custody Services are a part of BMO Global Asset Management and a division of BMO Harris Bank N.A., offering products and services through various affiliated entities of BMO Financial Group. 

      Investment advisory services in the United States are provided by BMO Asset Management Corp., BMO Asset Management Limited, LGM Investments Limited, BMO Global Asset Management (Asia) Limited, Pyrford International Ltd and Taplin, Canida & Habacht, LLC. 

      Investment advisory services in Canada are provided by BMO Asset Management Inc., BMO Asset Management Corp., LGM Investments Limited, BMO Global Asset Management (Asia) Limited and Pyrford International Ltd. 

      Financial promotions in the United Kingdom are provided by LGM Investments Limited, Pyrford International Ltd, and BMO Asset Management Limited. LGM Investments Limited, Pyrford International Ltd, and BMO Asset Management Limited are authorized and regulated by the Financial Conduct Authority in the United Kingdom. 

      Asset management services in Hong Kong are provided by BMO Global Asset Management (Asia) Limited, licensed by the Securities and Futures Commission to conduct regulated activity Type 9 - asset management under the Securities and Futures Ordinance. 

      Please read the Privacy Policy and Legal Disclosures reached through links above for important information. 

      Investment products are: Not a Deposit — Not FDIC Insured — No Bank Guarantee — May Lose Value. 

      Copyright © 2020. BMO Financial Corp. All Rights Reserved. 

      TM/® Trade-marks/registered trade-marks of Bank of Montreal, used under license.

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