Calendar:  July 24 – July 28

Monday July 24

Japan and Euro zone manufacturing and services PMI

(8:30 a.m. ET) Canadian wholesale trade for June.

(8:30 a.m. ET) U.S. Chicago Fed National Activity Index for June,

Earnings include: NXP Semiconductors NV

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Tuesday July 25

(8:30 a.m. ET) Canadian manufacturing sales for June.

(9 a.m. ET) U.S. S&P CoreLogic Case-Shiller Home Price Index (20 city). The Street is forecasting an increase of 0.7 per cent from April but down 2.3 per cent year-over-year.

(9 a.m. ET) U.S. FHFA House Price Index for May. Consensus is a rise of 0.6 per cent from May and up 2.4 per cent year-over-year.

(10 a.m. ET) U.S. Conference Board Consumer Confidence Index for June.

Also: U.S. Fed meeting begins

Earnings include: Alphabet Inc.; Canadian National Railway Co.; Danaher Corp.; General Electric Co.; General Motors Co.; Microsoft Corp.; Texas Instruments Inc.; Verizon Communications Inc.; Visa Inc.; 3M Co.

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Wednesday July 26

(10 a.m. ET) U.S. new home sales for June. The Street expects an annualized rate decline of 5.4 per cent.

(1:30 p.m. ET) Release of the Bank of Canada’s Summary of Deliberations for the July 12 decision

(2 p.m. ET) U.S. Fed announcement with chair Jerome Powell’s press conference to follow.

Earnings include: Agnico Eagle Mines Ltd.; Alamos Gold Inc.; Allied Properties REIT; AT&T Inc.; Boeing Co.; Canadian Pacific Kansas City Ltd.; Celestica Inc.; CGI Inc.; Coca-Cola Co.; Crescent Point Energy Corp.; GFL Environmental Holdings Inc.; Loblaw Companies Ltd.; Meta Platforms Inc.; Methanex Corp.; Qualcomm Inc.; Rogers Communications Inc.; ServiceNow Inc.; Toromont Industries Ltd.; Union Pacific Corp.; West Fraser Timber Co. Ltd.; Whitecap Resources Inc.

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Thursday July 27

Bank of Japan monetary policy meeting (through Friday) and release of its outlook report

ECB monetary policy meeting

(8:30 a.m. ET) Canada’s Survey of Employment, Payrolls and Hours for May.

(8:30 a.m. ET) U.S. initial jobless claims for week of July 22. Estimate is 236,000, up 8,000 from the previous week.

(8:30 a.m. ET) U.S. real GDP and GDP deflator for Q2. Consensus is annualized rate rises of 1.7 per cent and 3.0 per cent, respectively.

(8:30 a.m. ET) U.S. goods trade deficit for June.

(8:30 a.m. ET) U.S. wholesale and retail inventories for June.

(8:30 a.m. ET) U.S. durable orders for June. Consensus is a rise of 0.9 per cent from May.

(8:30 a.m. ET) U.S. core orders for June. The Street expects a month-over-month decline of 0.2 per cent.

(10 a.m. ET) U.S. pending home sales for June. Consensus is a decline of 0.5 per cent.

Earnings include: Amazon.com Inc.; Atco Ltd.; Baytex Energy Corp.; Canadian Utilities Ltd.; Canfor Corp.; Cenovus Energy Inc.; Comcast Corp.; Eldorado Gold Corp.; FirstService Corp.; Ford Motor Co.; Intel Corp.; Mastercard Inc.; McDonald’s Corp.; MEG Energy Corp.; Norfolk Southern Corp.; Ovintiv Inc.; Secure Energy Services Inc.; Tamarack Valley Energy Ltd.; Teck Resources Ltd.; T-Mobile US Inc.; TMX Group Ltd.; Winpak Ltd.

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Friday July 28

Euro zone consumer and economic confidence

Germany CPI

(8:30 a.m. ET) Canada’s monthly real GDP for May. Consensus is for growth of 0.3 per cent from April.

(8:30 a.m. ET) U.S. personal spending and income for June. The Street expects month-over-month increases of 0.4 per cent and 0.5 per cent, respectively.

(8:30 a.m. ET) U.S. Core PCE Price Index for June. Consensus is a rise of 0.2 per cent from May and up 4.2 per cent year-over-year.

(8:30 a.m. ET) U.S. employment cost index for Q2. The Street is projecting a rise of 1.1 per cent from Q1 and 4.6 per cent year-over-year.

Also: Ottawa’s budget balance for May.

Earnings include: AltaGas Ltd.; ARC Resources Ltd.; Chevron Corp.; Exxon Mobil Corp.; George Weston Ltd.; Imperial Oil Ltd.; Procter & Gamble Co.; TC Energy Corp.