Monday, July 18: The National Bureau of Statistics in Beijing will release June housing June price data for primary Chinese real estate markets. The 20-city index has been trending upward since the People’s Bank of China began increased liquidity operations in the first quarter. Prices are likely to continue to rise based on fixed-investment data issued by the NBS on Friday, which revealed a 6.1 percent year-over-year increase in property allocations in the first half of 2016.
Tuesday, July 19: The Office for National Statistics in London announces June inflation data for the U.K. Expectations are for a slight increase at the cost of goods at the factory gate level and to remain muted at the cash register. Last week the Bank of England surprised markets by refraining from lowering rates in the wake of the referendum to leave the European Union. The pound sterling rose sharply in response.
Wednesday, July 20: Abbott Laboratories releases second-quarter 2016 earnings before the market open amid questions about over the suburban Chicago-based pharmaceutical company’s proposed $5.8 billion takeover of diagnostics company Alere. Multiple media platforms have reported that Abbott has sought to back away from the deal in the wake of revelations that Alere is under investigation for bribery, as well as a recall of its INratio device, which monitors dosages of the popular anticlotting drug Warfarin.
Thursday, July 21: As the U.S. housing market continues to be impacted by the ultralow rate environment the June count for existing home sales release by the National Association of Realtors will be a focus for investors. The Case-Shiller index, released on a lagging basis, this past week indicated that Southern California home prices exceeded pre-2008 crisis levels for the first time in April.
Friday, July 22: The Newport Folk Festival began in 1959 but gained its greatest notoriety in 1965 when the audience booed Bob Dylan’s electrically amplified performance as he embarked on the most celebrated portion of his career. This year’s lineup includes such musical luminaries as Elvis Costello and Patti Smith alongside, New Zealand’s band-slash-television show Flight of the Conchords.