Monday Market Must-Knows: July 17, 2023

Will retail sales numbers impact market optimism?

In the last week, markets saw gains due to decreasing inflation, marked by CPI and PPI data. Ripple reached a notable settlement with the SEC, resulting in a mixed outcome. JP Morgan, Citibank, and BlackRock surpassed earnings predictions, indicating a promising beginning to earnings season.

Looking ahead to the upcoming trading week, there are a few key things to watch. The focus will be on earnings season, with notable companies such as Bank of America, Morgan Stanley, Netflix, Tesla, and IBM of 296 companies reporting. The performance of financial firms, in particular, will be closely observed. 

This week, focus will be on manufacturing data, which accounts for about 11% of the US GDP. The Empire State Manufacturing Index and Philly Fed Manufacturing Index will give insights into the sector's condition. Additionally, retail sales figures will be released, indicating consumer spending trends. Higher sales could boost markets, while lower numbers might foster pessimism.  Timing of all these reports is the key thing to watch!

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