Text size
The second-quarter earnings season speeds up this week, with 78 S&P 500 companies on deck to report. Halliburton and IBM publish their results first on Monday, followed by Coca-Cola, Lockheed Martin, Texas Instruments and United Airlines on Tuesday. Tesla, Microsoft and Chipotle Mexican Grill are the best moments on Wednesday.
AT&T, Twitter, American Airlines, Southwest Airlines and Intel report Thursday. Finally, Honeywell, Verizon Communications and American Express close the week on Friday.
On Tuesday, the Senate Banking Committee will vote to add Judy Shelton and Christopher Waller to the Federal Reserve Board of Governors.
The economic data calendar is scarce in relation to the earnings presented this week. Releases include the June Leading Economic Index of the Conference Board on Thursday, followed by IHS Markit’s Index of Manufacturing Purchasing and Service Managers for July on Friday. Both are expected to have returned to the expansion territory.
Monday 7/20
Cadence Design Systems,
Halliburton,
IBM,
Philips,
and Zions Bancorp report quarterly results.
Tuesday 7/21
The Senate Banking Committee vote on the nominations for Judy Shelton and Christopher Waller as members of the Board of Governors of the Federal Reserve System.
Capital One Financial,
Coca Cola,
Intuitive surgical,
Lockheed Martin,
Novartis,
Philip Morris International,
Prologis,
Texas Instruments,
and United Airlines Holdings report earnings.
Charles Schwab conducts his virtual summer business update. Senior management, including CEO Walt Bettinger and CFO Peter Crawford, will discuss the company’s strategic approach going forward.
The Federal reserve The Bank of Chicago reports its National Activity Index for June. The consensus estimate is for a reading of five, compared to May 2.6.
Wednesday 7/22
baker hughes,
Biogen,
Chipotle Mexican Grill,
CSX,
HCA Healthcare,
Microsoft,
Tesla,
and Thermo Fisher Scientific report quarterly results.
The national association of Realtors reports on existing home sales for June. Expectations are for a 25% month-over-month increase in sales at a seasonally adjusted annual rate of 4.9 million. Existing home sales have fallen for three consecutive months through May.
Federal housing The Finance Agency publishes its house price index for May. In April, house prices increased 5.5% year-over-year. The nine regions tracked by the FHFA showed annual increases, ranging from 5% in the
Mid-Atlantic at 6.8% in the mountains.
Thursday 07/23
American Airlines Group,
AT&T,
Danaher,
Dow,
Equifax
,
Intel,
Kimberly clark,
Nucor,
SL Green Realty,
Southwest Airlines,
Twitter,
and Union Pacific make conference calls to discuss earnings.
The conference board launches its leading economic index for June. Economists forecast a 2.8% increase, to a reading of 102.6, matching the May gain.
The labor department reports initial unemployment claims for the week ending July 18. Unemployment claims have decreased for 15 consecutive weeks since they peaked at 6.9 million in late March, but continue to exceed 1 million.
Friday 24/7
American express,
Honeywell International,
NextEra Energy,
Schlumberger,
and Verizon Communications report quarterly results.
IHS Markit Releases its manufacturing and service purchasing managers index for July. Consensus estimates are for a manufacturing PMI of 52 and a PMI of 51 services. This compares with 49.8 and 47.9 in June, respectively.
The Census Office reports new residential home sales data for June. Sales of new single-family homes are expected to increase 4.9% at a seasonally adjusted annual rate of 705,000.
Write to Nicholas Jasinski at [email protected]
.
