🔺 What to do when markets are at an all-time high? Find smart bargains, like these.See Undervalued Stocks

4 things to watch this morning

Published 07/23/2015, 06:32 AM
© Reuters.  4 things to watch this morning - Earnings palooza, U.S. data, Gold, Greece
EUR/USD
-
GM
-
T
-
CAT
-
DOW
-
MCD
-
LLY
-
NDAQ
-
AMZN
-
SBUX
-
CELG
-
CMCSA
-
LUV
-
RTN
-
BMY
-
V
-
GC
-
P
-

1. Earnings onslaught to hit Wall Street

Caterpillar (NYSE:CAT), General Motors (NYSE:GM), McDonald's (NYSE:MCD), Comcast (NASDAQ:CMCSA), Southwest Airlines (NYSE:LUV), Dow Chemical (NYSE:DOW), Raytheon (NYSE:RTN), Celgene (NASDAQ:CELG), Bristol-Myers Squibb (NYSE:BMY), Eli Lilly (NYSE:LLY) and NASDAQ OMX Group (NASDAQ:NDAQ) are due to report quarterly earnings ahead of Thursday's opening bell.

After Thursday’s close of trading, Amazon.com (NASDAQ:AMZN), AT&T (NYSE:T), Starbucks (NASDAQ:SBUX), Visa (NYSE:V) and Pandora Media (NYSE:P) are scheduled to report.

2. U.S. data in focus

The U.S. is to release weekly data on initial jobless claims at 8:30AM ET. The data is expected to show that weekly jobless claims dropped to 280,000 last week from 281,000 in the preceding week.

Also at 8:30AM, the Chicago Fed national activity index for June is due, followed by a report on leading indicators in June at 10AM.

Data on Wednesday showed that existing home sales rose to an eight-and-a-half year high in June, boosting optimism over the health of the economy and supporting the case for a rate hike later this year.

U.S. existing home sales increased by 3.2% to 5.49 million units last month, compared to expectations for a 1.2% rise to 5.40 million units.

3. Gold rises for first time in 11 sessions

Gold futures for August delivery on the Comex division of the New York Mercantile Exchange jumped $9.50, or 0.87%, to trade at $1,101.00 a troy ounce during U.S. morning hours, halting a ten-day losing streak.

Prices of the precious metal plunged to a five-year low of $1,080.00 on Monday amid speculation the Federal Reserve will raise interest rates for the first time in eight years as soon as September.

4. Greece approves second round of reforms

The euro was higher after Greek lawmakers passed a second set of crucial reforms on Wednesday, leading the way to the country's third bailout.

A majority of Greek lawmakers voted in favor of a second set of reforms late Wednesday, signaling that negotiations on an €86 billion European Union bailout can begin. The country is aiming for a deal by the middle of next month.

The new measures include changes to Greek banking and an overhaul of the judiciary system.

Greece had passed an initial set of austerity measures imposed by its creditors last week. These were a mix of economic reforms and budget cuts demanded before bailout talks could continue.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.