MasterCard, Hess, Whole Foods Earnings Preview
On Tuesday the Conference Board releases its consumer confidence reading for July and the consensus calls for continued improvement to 84.0. This reading will still be below the neutral zone at 90 to 110, so the real story will be that consumers are less depressed, not more confident.
On Wednesday the advance reading for second quarter GDP is expected to show continued slow growth at 1.3%. The Chicago PMI release should rise to 54.0.
On Thursday Jobless Claims should remain below the recessionary threshold of 350,000, and the national ISM index should rise to 53.0 in July. Construction spending is projected to rise by 1.0%, but as I suggested in my July 24 story Downgrades Point to Weak Construction Spending Ahead many stocks that support construction have been downgraded to sell according to www.ValuEngine.com.
On Friday nonfarm payrolls are expected to rise 200,000 with the unemployment rate down to 7.5%. I will be focusing on the growth of part time jobs versus full time jobs.
On July 24 I profiled 13 stocks in Amazon, GM and 3M Earnings Preview. These stocks reported earnings results on Thursday, and here's my scorecard for 12 of the July 25 field of stocks: