Dan Celia: Expect Huge Announcements This Week on Consumer Index, GDP, Personal Income
July 27, 2020
PHILADELPHIA — Nationally syndicated host and biblical investing authority Dan Celia said today that the economic data expected to come out this week could impact on the markets. The likely combination of positive and negative announcements could have a roller-coaster effect.
“This week really begins the heart of earnings season and earnings are certainly going to play a big factor in how we move forward,” Celia said. “The consumer confidence index will come out at 10 o’clock on Tuesday — it’s the best consumer confidence number and one that we look at closely. June surprised everyone when the index hit 98.1.
“Jerome Powell is holding a press conference at 2:30 p.m. on Wednesday, and of course everybody will be watching that,” Celia continued.
“Thursday is going to be our first look at the catastrophe of the second quarter GDP. We all are braced for an absolute worst-case scenario. We know it is going to be a horrifying number, a number like no one has ever seen. This is another one of those bottom numbers, and we’re not going to see anything lower than this, probably in our lifetime.
“Friday, we get personal income, personal spending numbers for the month of June. One would expect personal income to drop, but the number might not be too bad — maybe a break even or a negative number— consumer spending has been very, very good. I think that in combination with earnings reports, those things together may impact the markets.” Celia concluded.
Celia discusses these and other global and economic headlines on his daily, three-hour “Financial Issues” program, heard on more than 660 radio stations and several television networks nationwide, including FISM.TV, viewed on several post-cable television platforms and online.
Read more about Celia, FISM and “Financial Issues” or visit the FISM website, its Facebook page, on YouTube at Financial Issues with Dan Celia or on Twitter @financialissues; download the FISM app here.
To book Financial Issues Stewardship Ministries’ Dan Celia, contact Media@HamiltonStrategies.com or Patrick Benner, 610.584.1096, ext. 104, or Deborah Hamilton, ext. 102.