Author Kirby Hart
Published July 20, 2026
Estimated
Treasury yields are 1-2 bps higher this morning following the weekend news. Oil prices rose again this weekend following further intensification of the US attacks on Iran. Though news was released, the negotiating channel was reopening for discussions on another ceasefire. After last week’s sell-off, S&P futures indicate a 0.50% positive open. Investors are turning their eyes to Wednesday, as Alphabet (Google) will be the first AI hyperscaler to report earnings. This is coming as the S&P 500’s chip stocks entered a bear market last week amid worries about continued growing capital expenditures for the AI buildout.
Kirby Hart Director
Date Event Survey Actual Prior Revised 7/20/2026 Leading Index -0.10% — 0.10% — 7/21/2026 ADP Weekly Employment Change — — 19.750k — 7/21/2026 Philadelphia Fed Non-Manufacturing Activity — — -25.8 — 7/22/2026 MBA Mortgage Applications — — -2.70% — 7/23/2026 Initial Jobless Claims 211k — 208k — 7/23/2026 Initial Claims 4-Wk Moving Avg — — 214.25k — 7/23/2026 Continuing Claims 1810k — 1805k — 7/23/2026 Chicago Fed Nat Activity Index — — -0.1 — 7/23/2026 Kansas City Fed Manf. Activity 13 — 11 — 7/24/2026 Bloomberg July United States Economic Survey 7/24/2026 S&P Global US Manufacturing PMI 54.5 — 53.9 — 7/24/2026 S&P Global US Services PMI 51.5 — 51.2 — 7/24/2026 S&P Global US Composite PMI 52.1 — 51.9 — 7/24/2026 New Home Sales 606k — 580k — 7/24/2026 New Home Sales MoM 4.60% — -7.30% — 7/24/2026 Kansas City Fed Services Activity — — 5 — 7/24/2026 Building Permits — — 1367k — 7/24/2026 Building Permits MoM — — -3.00% — 7/27/2026 Durable Goods Orders 1.30% — -4.50% — 7/27/2026 Durables Ex Transportation 1.00% — 1.40% — 7/27/2026 Cap Goods Orders Nondef Ex Air 1.00% — 1.40% — 7/27/2026 Cap Goods Ship Nondef Ex Air — — 0.10% — 7/27/2026 Dallas Fed Manf. Activity — — 0 —
Kirby Hart Director, Investment Management Group
LinkedIn
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