Current Events: Friday's surge saved the U.S. equity indexes from a disappointing week. The Friday rally, which was the best session since June, ended the longest losing stretch the U.S. stock indexes have seen since May. With industry-leading companies such as Microsoft, General Electric, Bank of America, Goldman Sachs, and more all set to announce earnings this week, investors will utilize these reports and outlooks as a gauge to determine potential trends.What to Look for This Week
With a heavy dose of economic reports coming from various departments and regions of the U.S. this week, clearer signs of the nation's health status will emerge for scrutinizing investors. Coupled that with the plethora of second-quarter earnings announcements, and this week is sure to have large implications on establishing a general direction of the current fluctuating markets.
News Affecting the Markets
Missouri state banking regulators shut down Glasgow Savings Bank Friday. The one-branch Missouri bank is the 33rd bank to fail this year nationally. Glasgow Savings' deposits will be assumed by Regional Missouri Bank of Marceline, Mo. Deposits will continue to be insured by the FDIC, up to legal limits. As of March 31, Glasgow Savings Bank had roughly $24.8 million in total assets and $24.2 million in total deposits.
Smart Investing
Building an ETF Portfolio: As investment products increase in number, complexity and cost, many individuals are searching for an investment approach guided by two very basic principles: Keep it simple, and Keep it economical. Exchange-traded funds (ETFs) offer a useful starting point for such an investment approach. However with hundreds of different exchange-traded funds to choose from, and a never-ending number of ETF portfolio combinations, it can be confusing for the novice investor to grasp at first glance. Keep in mind, a portfolio must meet your financial goals and match your risk tolerance. ETFs provide all of the advantages of the more commonly invested traditional index mutual funds, including diversification, tax efficiency and low maintenance. They also feature rock-bottom costs, with expense ratios that are even lower than their mutual fund counterparts. Despite the large number of ETFs available, it is possible to quickly narrow down your choices and build a simple, low-cost portfolio of exchange-traded funds once you have an understanding of all the options available. These portfolio approaches require very little time and energy to manage, is relatively low cost, and yet provides substantial diversification.
Earnings for the Week
Monday: Brown & Brown Inc (BRO) {After the close}, Citigroup Inc (C), Gannett Co Inc (GCI), Packaging Corp of America (PKG) {After the close}, Robert Half International Inc (RHI), United Continental Holdings Inc (UAL)
Tuesday: Acme Packet Inc (APKT), Albemarle Corp (ALB) {After the close}, Comerica Inc (CMA), CSX Corp (CSX) {After the close}, Fidelity National Information Services Inc (FIS) {After the close}, Forest Laboratories Inc (FRX), Goldman Sachs Group Inc (GS), Hanesbrands Inc (HBI), Host Hotels and Resorts Inc (HST), Intel Corp (INTC) {After the close}, Johnson & Johnson (JNJ), Kansas City Southern (KSU), Mattel Inc (MAT), McMoRan Exploration Co (MMR), Mosaic Co (MOS), New Oriental Education & Technology Group Inc (EDU), OCI Materials Co Ltd (OMC), Rosetta Genomics Ltd (ROSG), State Street Corp (STT), The Coca-Cola Co (KO), United Rentals Inc (URI) {After the close}, Wynn Resorts Ltd (WYNN) {After the close}, Yahoo! Inc (YHOO) {After the close}
Wednesday: Abbott Laboratories (ABT), American Express Co (AXP) {After the close}, Amphenol Corp (APH), Bank of America Corp (BAC), Bank of New York Mellon Corp (BK), BlackRock Inc (BLK), Charles Schwab Corp (SCHW), Check Point Software Technologies Ltd (CHKP), Core Laboratories NV (CLB) {After the close}, Covanta Holding Corp (CVA) {After the close}, Crown Holdings Inc (CCK) {After the close}, eBay Inc (EBAY) {After the close}, Honeywell International Inc (HON), International Business Machines Corp (IBM) {After the close}, Kinder Morgan Energy Partners LP (KMP) {After the close}, Knight Capital Group Inc (KCG), LaSalle Hotel Properties (LHO) {After the close}, Noble Corp (NE) {After the close}, PNC Financial Services Group Inc (PNC), Qualcomm Inc (QCOM) {After the close}, SLM Corp (SLM), St. Jude Medical Inc (STJ) {After the close}, Stryker Corp (SYK) {After the close}, U.S. Bancorp (USB), Yum! Brands Inc (YUM) {After the close}
Thursday: Advanced Micro Devices Inc (AMD) {After the close}, Alliance Data Systems Corp (ADS), Baxter International Inc (BAX), BB&T Corp (BBT), Blackstone Group LP (BX), Capital One Financial Corp (COF) {After the close}, Chipotle Mexican Grill Inc (CMG) {After the close}, Cypress Semiconductor Corp (CY), Danaher Corp (DHR), Diamond Offshore Drilling Inc (DO), Fairchild Semiconductor International Inc (FCS), Freeport-McMoRan Copper & Gold Inc (FCX), Genuine Parts Co (GPC), Johnson Controls Inc (JCI), KeyCorp (KEY), Laboratory Corporation of America Holdings (LH), Microsoft Corp (MSFT) {After the close}, Morgan Stanley (MS), NCR Corp (NCR), Nucor Corp (NUE), Philip Morris International Inc (PM), Quest Diagnostics Inc (DGX), Safeway Inc (SWY), SanDisk Corp (SNDK), Sherwin-Williams Co (SHW), Southwest Airlines Co (LUV), Steel Dynamics Inc (STLD), Swift Transportation Co (SWFT) {After the close}, TCF Financial Corp (TCB), Textron Inc (TXT), Travelers Companies Inc (TRV), Union Pacific Corp (UNP), UnitedHealth Group Inc (UNH), Verizon Communications Inc (VZ), WESCO International Inc (WCC)
Friday: American Electric Power Company Inc (AEP), Autoliv Inc (ALV), Baker Hughes Inc (BHI), General Electric Co (GE), Ingersoll-Rand PLC (IR), Manpower Inc (MAN), Schlumberger NV (SLB), SunTrust Banks Inc (STI), Xerox Corp (XRX)
* Earnings dates and times are subject to change
Economic Data this Week
Monday
Retail Sales @ 8:30 AM for June (Est. = 0.2% to 0.4%, Prior = -0.2%)
Empire Manufacturing @ 8:30 AM for July (Est. = 0.0 to 3.8, Prior = 2.3)
Business Inventories @ 10:00 AM for May (Est. = 0.2%, Prior = 0.4%)
Tuesday
CPI @ 8:30 AM for June (Est. = 0.1%, Prior = -0.3%)
Core CPI @ 8:30 AM for June (Est. = 0.2%, Prior = 0.2%)
Industrial Production @ 9:15 AM for June (Est. = 0.0% to 0.3%, Prior = -0.1%)
Capacity Utilization @ 9:15 AM for June (Est. = 79.0% to 79.2%, Prior = 79.0%)
NAHB Housing Market Index @ 10:00 AM for July (Est. = 30, Prior = 29)
Wednesday
MBA Mortgage Index @ 7:00 AM for 07/14 (Est. = n/a, Prior = -2.1%)
Housing Starts @ 8:30 AM for June (Est. = 715K to 743K, Prior = 708K)
Building Permits @ 8:30 AM for June (Est. = 765K, Prior = 780K)
Crude Oil Inventories @ 10:30 AM for 07/14 (Est. = n/a, Prior = -4.696M)
Fed's Beige Book @ 2:00 PM for June
Thursday
Initial Claims @ 8:30 AM for 07/14 (Est. = 360K to 365K, Prior = 350K)
Continuing Claims @ 8:30 AM for 07/07 (Est. = 3300K, Prior = 3304K)
Existing Home Sales @ 10:00 AM for June (Est. = 4.65M, Prior = 4.55M)
Philadelphia Fed @ 10:00 AM for July (Est. = -10.0 to -13.0, Prior = -16.6)
Leading Indicators @ 10:00 AM for June (Est. = -0.2%, Prior = 0.3%)
Friday
No announcements scheduled.
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