Three Things to Watch
- The macroeconomic calendar is relatively light this week with the U.S. Federal Reserve (Fed) entering its blackout period (no comments) ahead of the policy meeting on July 28-29. The index of leading indicators will be released on Monday and is expected to come in flat versus last month.
- The earnings calendar accelerates this week with several members of the G7 reporting. High-profile names on the tape include Alphabet, Tesla, IBM, Texas Instruments, AT&T, Intel, GM and Schwab. Earnings continue to surprise on the upside and are expected up 24% for the full year.
- The conflict in the Middle East has reignited, pushing oil back above $90/barrel and injecting additional uncertainty into the markets. The U.S. death toll has hit 17 and the strategy going forward for the United States remains unclear.
Three Things to Know
- The United States saw 372 large-company bankruptcies in the first six months of 2026, the highest first half total in 16 years. This marks the fourth consecutive year-over-year increase for this period of the year. This also surpassed the full-year total for 2022, when 317 firms went bankrupt. Both May and June recorded 72 filings, the third-highest monthly total since July 2020. Industrial companies led with 50 filings year-to-date, followed by 35 in consumer discretionary and 26 in healthcare. (Source: The Kobeissi Letter)
- A New York school district will become one of the first in the United States to introduce a humanoid robot in the classroom. “Sally” will have a Western New York accent and will teach 11th– and 12th-grade students at Salamanca High School. Sally costs less than the average teacher’s salary in New York, with a price tag of $57,000. The robot has brown hair and can move its arms and legs, but will not be able to walk around the classroom. Students will be able to log in so the humanoid can recognize students and their previous interactions. The humanoid will be helping teach coding, robotics and artificial intelligence classes. (Source: Collin Rugg)
- The cost of financing U.S. debt is rapidly rising: On Tuesday, the United States sold 30-year Treasury bonds at a 5.06% yield, the highest auction result since 2007. At the same time, the 30-year Treasury yield jumped back above 5.00%, though it remains below the May 20th peak of 5.20%, the highest since July 2007. By comparison, auctions for the same maturity were priced at around 2.00% in early 2022. (Source: The Kobeissi Letter)
The above information reflects the current opinion of the author. It is based upon sources and data believed to be accurate and reliable. Opinions and forward-looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security mentioned.
5763734- EXP: 07/31/2029