Big Picture

There are over a hundred stocks with Weeklys reporting this week in what is probably the heaviest portion of the earnings calendar.  All eyes will be on AAPL’s report tomorrow after the close which as well as financials will probably give us some insight into product launches coming in the next few months. 

The economic calendar is heavier this week than last week with Personal Income and ISM tomorrow, the ADP employment number Wednesday, Factory Orders and Services ISM Thursday, and Non-Farm Payrolls on Friday.  The CME Fedwatch tool as the odds of a hike in December at 46%, down from 62% over the past month.  I’ll be checking that number Friday after we get all this new data to see if it has shifted again. 

Finally, if you have a strong opinion about the direction of the market today, today is the final day trading day of July and there are RUT and SPX options expiring on the close.  Of course, there are always Monday SPX options, but RUT gives you another alternative today.

Overnight / Pre-Market

As of 7:00 am Chicago time the S&P 500 futures are up 3.00 points, VIX is also higher by 0.20 to 10.49 while the August and September contracts are both unchanged.  Both Gold and Oil are nearly unchanged as well.   The Nikkei 225 closed down 0.17%.  In Europe the FTSE 100 is up 0.32%, the Euro Stoxx 50 if up 0.23% and VSTOXX is down 0.27 to 13.46. 

Looking Forward

There are still several stocks reporting earnings.  Here’s the names reporting after the close and before the open on Tuesday.

Monday 07312017 Earnings

The full list of stocks with Weeklys reporting this week can be found here –

http://www.cboe.com/blogs/options-hub/2017/07/27/earnings-week-of-july-31-to-august-4

On the economic number front as mentioned before it is a big week for significant reports.   Friday is the first Friday of August and the first Friday of each month usually has an employment report.  The ADP number comes out Wednesday, which is always fun to pick apart and use to guess what’s going to be reported Friday.  The official employment situation report comes out Friday before the open.

CBOE Webcasts

August 2nd at 3:30 Central – Dan Passarelli discusses Tips and Tricks to Setting Up High Probability Option Trades

August 9th at 3:30 Central – Russell Rhoads discusses Option Strategies in a Low Volatility Environment

More information and registration at www.cboe.com/webcasts

Today in History

On July 31, 1556 Ignatius of Loyola died in Rome.  He is the founder of the Jesuit order of Roman Catholic missionaries and educators.  Ignatius’ plan for the Society of Jesus, as the Jesuits are formally known, was granted by Pope Paul III in 1540.  By the time of his death there were over 1,000 Jesuit priests.  In the United States there are twenty-eight Jesuit colleges and universities including Loyola here in Chicago.  Loyola has the distinction of being a place I am honored to act as an adjunct instructor as well as being the only school in Illinois to have won an NCAA basketball championship.  

Jesuit Colleges