Trump, Putin and bank earnings highlight the week ahead

The week kicks off with the long-awaited summit between President Trump and Russian President Putin in Helsinki.

The latest indictments of Russian intelligence officers in Robert Mueller’s probe into Russian meddling in the 2016 election will put extra tension on this meeting between the two most powerful leaders in the world.

On the business side,  it is “Amazon’s Prime Day”, the company’s annual sales event that’s now its biggest, will be held this year on Monday starting at 3 PM ET, and will feature over a million deals.

Eyes will also be on the planemakers as the annual Farnborough Air Show gets underway in England. It’s the yearly meeting where Boeing and Airbus square off in a battle for orders.

Bank earnings continue with results from Bank of America before the bell. After the bell results will be released from Netflix.

On the economic front, reports are due on retail sales and empire manufacturing.

Federal Reserve Chairman Jerome Powell will deliver his semiannual monetary policy report to the Senate Banking Committee on Tuesday.

Three Dow components will report earnings on Tuesday: Goldman Sachs, Johnson & Johnson and UnitedHealth.

Earnings continue on Wednesday with results from Morgan Stanley, American Express, IBM and ebay.

Traders will also examine the latest data on housing starts and building permits. On Wednesday afternoon, the Federal Reserve will release the beige book on economic conditions in the federal Reserve districts.

Thursday’s highlights include earnings from Travelers and  Microsoft.

Traders will get the latest data on jobless claims and manufacturing conditions in the Mid-Atlantic region in the Philly Fed report.

The week will round out with St. Louis Fed President James Bullard giving a presentation on the U.S. economy and monetary policy before the Glasgow Chamber of Commerce.

Earnings are expected from General Electric and Honeywell.