Technical Analysis

Friday’s US economic calendar is more about earnings than data

Tomorrow’s is Friday the 13th but there’s nothing particularly scary to worry about on the economic calendar.

Friday’s US economic calendar features the preliminary UMich consumer sentiment report as the highlight. I maintain that this is a trash indicator that says far more about political sentiment than anything else. Given that, I feel like the hatred towards Washington has been slightly dialed down lately so maybe it beats estimates.

The only other indicator is the import/export price report but that’s not a market mover.

For Fedspeak we get Harker and Kashkari.

Likely to be more meaningful are earnings in the US premarket including:

  • JPMorgan
  • Bank of America
  • Citi
  • Wells Fargo
  • Delta Airlines

JPM CEO Jamie Dimon always has lots to say on the economic outlook and I’ll be looking for Delta to confirm the rosy outlook from American Airlines today.

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