Monday Morning Market Preview, Calendars

August 15, 2022

| C. Scott Garliss

Morning Market Preview:

S&P futures are lower, down 18 to 19 points, as…

Federal Reserve Bank of Richmond President Thomas Barkin said the central bank should continue to raise interest rates until there's a sustained slowdown in inflation growth.
Building permit and housing start data for July are due Tuesday, signaling the strength of the construction industry which is responsible for almost 20% of domestic economic output.
The U.S. Census Bureau reports July retail sales figures on Wednesday, a real-time update on the health of household spending.
The Federal Reserve releases the minutes of its most recent policy meeting on Wednesday with investors paying close attention to details on the future path of rate hikes.

European markets rose as…

German Federal Network Agency President Klaus Muller said gas storage facilities have reached the 75% fill level two weeks ahead of schedule, easing concerns of a winter shortage.
Eurostat releases the second take of second-quarter gross domestic product ("GDP") figures on Thursday, updating the state of regional economic activity.
European Central Bank Executive Board member Isabel Schnabel is set to speak on Thursday with investors awaiting updates on her rate hike outlook for the September policy meeting.
German producer price index ("PPI") growth data for July is due on Friday, signaling the state of input costs for companies in Europe's largest economy.

Asian markets gained as…

Chinese President Xi Jinping was said to prepare for a face-to-face meeting with U.S. President Joe Biden in November.
Japanese Prime Minister Fumio Kishida said he will instruct the members of his cabinet to take steps in order to ease rising inflation pressures on consumers and businesses.
The Reserve Bank of Australia releases the minutes from its most recent policy meeting on Tuesday with investors looking for clues on the potential for additional large rate hikes.
The Reserve Bank of New Zealand is expected to raise interest rates by another 0.5% when it announces its latest monetary policy update on Wednesday.

And ahead of…

Empire State Manufacturing Survey for August (8:30 a.m.)
NAHB Housing Market Index for August (10:00 a.m.)

Pre-Market Levels:

S&P -0.42%

Asia:

Japan's Nikkei +1.14%, Japan's TOPIX +0.60%, China's Shanghai Composite -0.02%, Hong Kong Hang Seng Index -0.67%, South Korea's KOSPI 0.00%, Taiwan's TSE +0.84%

Europe:

EuroStoxx 50 +0.18%, UK FTSE -0.09%, German DAX +0.07%, French CAC +0.20%, Italian MIB 0.00%, Spanish IBEX +0.24%

Currencies:

Dollar +0.55%, Japanese Yen -0.10%, Euro -0.55%, British Pound -0.37%, Swiss Franc +0.39%, Chinese Yuan +0.37%

Risk:

VIX +7.27%

Bitcoin +0.06%

Ethereum -1.48%

Growth:

WTI Crude -4.95%

Brent Crude -4.55%

Nat Gas -1.69%

Copper -2.96%

Safety:

Gold -1.40%

Silver -2.42%

Sovereign Bonds:

U.S. Treasury 10-yr yield -0.7bps at 2.82%

U.S. Treasury 2-yr yield +0.4bps at 3.25%

German 10-yr yield -4.6bps at 0.94%

French 10-yr yield -4.0bps at 1.50%

Italian 10-yr yield -2.1bps at 3.03%

Japanese 10-yr yield -0.1bps at 0.18%

Earnings:

AGFY, AMPS, ATAI, BCLI, CBAT, CLSN, DBGI, DNA, DOYU, DRIO, EDBL, EMBC, GLS, GMDA, GRCL, HCDI, IMPL, INUV, LIDR, LOCL, MOND, NAVB, NIU, NRXP, OMQS, PLX, RMTI, ROIV, SBT, SCYX, SNAX, STRN, STRS, TCRT, TWKS, TXMD, UPH, VRDN, WEBR, WEJO, WISA, XELB, and YOU before the open.

ABOS, ALBO, AMPG, API, ARKR, ASYS, AUVI, AXDX, BIOR, BLBX, BLND, BRDS, BTCY, CALA, CETX, CHRA, CIDM, CREX, CRKN, CURI, CWBR, CYRN, DLPN, FAZE, FLGC, FLNC, FN, FSI, FUV, FXLV, GAN, GNLN, GNRSU, GOCO, GREE, GROY, GSM, GURE, GVP, HLBZ, HNRG, HSDT, HYRE, IFS, IMMR, INPX, IONM, IONQ, IPWR, IRIX, ISUN, IZEA, KBNT, KULR, LHDX, LIFE, MARK, MIRO, MOVE, NDRA, NEPT, NGS, NOTE, NRDY, NVTS, PBLA, PEV, PPSI, PRSO, QIPT, QRHC, RCRT, RSLS, SBIG, SDIG, SGBX, SHLS, SKYT, SLGC, SMFR, TDUP, TGAN, TIVC, TMC, TME, TTOO, UGRO, VERB, VISL, VTYX, VVOS, VYNT, WYY, XSPA, and ZIP after the close.

Calendar:

Japan – Industrial Production for June
Japan – Retail Sales for June
Empire State Manufacturing Survey for August (8:30 a.m.)
NAHB Housing Market Index for August (10:00 a.m.)