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It is the busiest week of the second quarter earnings season, with 171 S&P 500 companies slated to report. Things start slowly on Monday, before 3M, Advanced Micro Devices, eBay, McDonald’s, Pfizer, Starbucks and Visa reported on Tuesday. On Wednesday, Boeing, Facebook, General Electric, PayPal Holdings, Qualcomm and Shopify released results.
Thursday is particularly busy: Alphabet, Amazon.com, Apple, Comcast, Ford Motor, Procter & Gamble and United Parcel Service report. Finally, Caterpillar, Chevron, Exxon Mobil and Under Armor release their earnings on Friday.
The economic calendar for the week is also busy. On Monday, the Census Bureau releases the June Durable Goods report, which is often considered a decent proxy for business investment. Expectations are for another monthly increase after a big jump in May. Next Tuesday, the Conference Board releases its Consumer Confidence Index for June.
On Wednesday, the Federal Reserve’s interest rate setting committee concludes a two-day meeting and announces a monetary policy decision. Officials are expected to keep interest rates unchanged, but President Jerome Powell’s post-meeting press conference will continue to receive much attention. Investors and Fed watchers will want to hear the latest views from policy makers on the US economy.
The Office of Economic Analysis is then expected to report a record 34% drop in gross domestic product for the second quarter on Thursday. And finally, on Friday, the BEA will release personal income and expense data for June.
Monday 7/27
F5 Networks,
Hasbro,
and SAP report quarterly results.
The Census Office publishes the June Durable Goods report. New orders for durable manufactured goods are expected to rise 5.5% to $ 205 billion, after a 15.7% jump in May.
The Federal reserve The Bank of Dallas reports its Texas Manufacturing Outlook survey for July. Economists forecast a reading of just over zero, continuing the rebound of the index from all-time lows in March and April.
Tuesday 7/28
3 millions,
Advanced micro devices,
Altria Group,
Amgen,
ebay,
McDonald’s,
MSCI,
Mondelez International,
Pfizer,
Raytheon Technologies
,
S&P Global,
Starbucks,
and Visa earnings report.
The conference board launches its Consumer Confidence Index for June. The consensus estimate is for a reading of 95.5, slightly below May 98.1.
Wednesday 07/29
The Federal Open Market Committee announces its monetary policy decision. The central bank is expected to keep interest rates close to zero until 2022.
Crown Castle International,
Facebook,
General Energy,
Norfolk Southern,
PayPal Holdings,
Qualcomm,
Sanofi,
and Shopify report quarterly results.
The National Association of Realtors publishes its pending home sales index for June. The index is seen to rise 5.4% to 105 readings, after a record peak of 44.3% in May.
Thursday 07/30
Alphabet
,
Amazon.com,
American tower,
Apple,
Comcast,
ConocoPhillips,
Electronic arts,
Eli Lilly,
Ford Motor,
Gilead Sciences,
Moody’s
,
Newmont,
Northrop Grumman,
Procter & Gamble,
and the United Parcel Service make conference calls to discuss earnings.
The economy office The analysis reports the gross domestic product for the second quarter. The consensus estimate is for a 34% decrease, after a 5% drop in the first quarter. The largest quarterly decline on record was 10% during the first three months of 1958. The launch of BEA will likely confirm the end of the longest economic expansion in the history of the United States, which began in June 2009.
Friday 07/31
AbbVie,
Caterpillar,
Charter communications,
Chevron,
Colgate-Palmolive,
Exxon Mobil,
Merck,
Phillips 66,
and Under Armor report earnings.
The Institute for Supply Management releases its Chicago Purchasing Manager Index for July. Economists forecast a reading of 42, above June’s 36.6 but still below the expansive level of 50, which the index has not surpassed since last summer.
BEA reports Personal income and expenses for June. Expectations of a 3% decrease in income and a 6% jump in expenses. This compares with a 4.2% drop and 8.2% gain, respectively, in May.
Write to Nicholas Jasinski at [email protected]
.
