Weekly Market Snapshot: July 24, 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.
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