Weekly Market Snapshot1

News Last Week

  • Horizon Pharma reported quarterly earnings that beat estimates and revenue that beat forecasts. The results were in part due to a strong sales performance for its rare disease medicines.
  • General Motors announced a pickup truck recall to correct potential power steering issues; the recall impacts nearly 800,000 vehicles.
  • Avis Budget announced weaker-than-expected earnings and revenue that fell short of forecasts. The company also adjusted its outlook for the year; decreases in used car sale prices and rising fleet costs have affected performance.
View More View Less
  • Disney reported solid earnings but weaker-than-expected revenue; share prices fell 3% — in afterhours trading — as a result. In addition, Disney announced its intention to launch a streaming service in 2019 and pull new movies from Netflix around the same time.
  • GoDaddy reported better-than-expected earnings and revenue that beat forecasts. Results were in part due to the recent acquisition of Host Europe Group.
  • Blue Apron Holdings reported weaker-than-expected earnings for its first quarter as a publically-traded company. Revenue exceeded forecasts and — despite reporting a 23% customer growth rate year-over-year — share prices fell 16% following the announcement.
  • Global markets experienced sell-offs this week as tensions between the United States and North Korea rose.
  • Thursday: Producer Price Index for July reported a 0.1% decrease compared to a consensus estimate of a positive increase on 0.1% from the previous month. The index is up 1.9% year-over-year.
  • Friday: Consumer Price Index (CPI) for July increased 0.1% compared to a consensus estimate of 0.2%. Excluding the more volatile categories of food and energy the index is up 1.7% year-over-year.
View Full Report

News Next Week

  • Tuesday: Retail Sales for July will be reported at 8:30am
  • Wednesday: Housing Starts for July will be reported at 8:30am
  • Wednesday: FOMC meeting minutes for the previous meeting will be released at 2:00pm. FOMC meeting minutes are released three weeks after the meeting. They are of interest to investors because they often provide insight into the Fed’s view on the economy and future interest rate changes.
View More View Less
  • Thursday: Industrial Production for July will be reported at 9:15am

You are now leaving the BMO Global Asset Management web site:

The link you have selected is located on another web site. Please click OK below to leave the BMO Global Asset Management site and proceed to the selected site. BMO Global Asset Management takes no responsibility for the accuracy or factual correctness of any information posted to third party web sites.

Thank you for your interest in BMO Global Asset Management.

You are now leaving the BMO Global Asset Management web site:

The link you have selected is located on another web site. Please click OK below to leave the BMO Global Asset Management site and proceed to the selected site. BMO Global Asset Management takes no responsibility for the accuracy or factual correctness of any information posted to third party web sites.

Thank you for your interest in BMO Global Asset Management.

You are now leaving the BMO Global Asset Management web site:

The link you have selected is located on another web site. Please click OK below to leave the BMO Global Asset Management site and proceed to the selected site. BMO Global Asset Management takes no responsibility for the accuracy or factual correctness of any information posted to third party web sites.

Thank you for your interest in BMO Global Asset Management.

You are now leaving the BMO Global Asset Management web site:

The link you have selected is located on another web site. Please click OK below to leave the BMO Global Asset Management site and proceed to the selected site. BMO Global Asset Management takes no responsibility for the accuracy or factual correctness of any information posted to third party web sites.

Thank you for your interest in BMO Global Asset Management.