Company earnings to drive US markets, as Fed members enter pre-FOMC quiet period

The rising doubt among investors could enhance two-sided volatility in US-denominated assets, as Fed members enter the pre-meeting quiet period from now to the July 30-31st FOMC meeting and they wont be able to guide the market before the next policy decision. Hence the attention will mostly be on the IMFs world economic outlook update due Tuesday, the US 2Q advance GDP data due Friday and the company results due throughout the week.

Nearly a third of the S&P500 companies will report earnings this week. Coca Cola and Snap on Tuesday, GlaxoSmithKline, Facebook, Boeing and Ford on Wednesday, Unilever, Alphabet and Amazon on Thursday, McDonalds and Twitter on Friday will be among the closely monitored companies this week.

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Opening calls

FTSE is expected to open flat at 7508

DAX is expected to open 15 points lower at 12245