The Economic Week Ahead: July 15-19

The economic week ahead will include updates on industrial production and business sales of goods, as well as retail sales. The upshot is likely to be another all-time high for June's Index of Coincident Indicators (Thu), as confirmed by S&P 500 forward earnings per share which climbed to another new record high during June (chart).

When profits grow, the economy grows. During the current earnings reporting season, we expect more upside earnings surprises and m0re specific discussion by company managements on how they are using AI to cut costs and boost productivity.