Weekly Call With Jose de Haro: Market Wrap July 10th 2016

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Next week’s economic calendar is full but back loaded, as most of the key economic releases come out on Friday. Tuesday is the first day for data. That is when we get the Job Openings and Labor Turnover Survey (JOLTS) for May.

Wednesday brings the Fed’s beige book, which we expect to be a relative nonevent. Recent reports have described the economy as growing at a “moderate pace”, with wages rising “modestly” while “price pressures grew slightly”. Given the mixed bag of economic data that we have seen recently, there is doubt the qualitative descriptions of the economy will change much in the latest report.

The June producer price index (PPI) report is also released on Wednesday. The headline PPI and the core PPI are both expected to grow only modestly.

On Friday, we get six economic reports—the consumer price index (CPI), retail sales, the NY Fed Empire Survey, industrial production, business inventories and consumer sentiment. Similar to the PPI, the June headline CPI should increase moderately, while the core CPI is expected to round down.

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