Weekly Call With Jose de Haro: Market Wrap July 24th 2016

The main event this week is the July FOMC meeting, which concludes on Wednesday. We should expect a moderately more upbeat meeting statement but no strong signaling of an impending rate hike in September. We should not forget that the Fed will not have the Q2 real GDP report, released on Friday along with the Q2 employment cost index and the July Chicago PMI. Other data this week include new home sales and consumer confidence (Tuesday), pending home sales (Wednesday) and a new report from the Census that combines the advance goods trade data with retail and wholesale inventories (Thursday).

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