Wall Street investors’ major focus in the week ahead will be on the second quarter earnings from some of the big American companies.
Electric vehicle giant Tesla, IT behemoth Google-parent Alphabet, Coca-Cola, Intel, Verizon, General Motors, and IBM are scheduled to declare their earnings.
The economic calendar next week will be fairly light, with market participants to receive data on existing home sales, initial jobless claims, and S&P Global’s flash services and manufacturing PMIs.
The traders will also closely monitor Federal Reserve chair Jerome Powell’s speech at a conference for clues on the US central bank’s monetary policy ahead.
Economic Calendar
On July 21 (Monday), a report on US leading economic indicators for June will be released.
On July 22 (Tuesday), Fed Chair Powell is slated to give opening remarks at a banking conference.
On July 23 (Wednesday), data on existing home sales for June will be released.
On July 24 (Thursday), separate reports on initial jobless claims for the week ended July 19, S&P flash US services PMI for July, S&P flash manufacturing PMI for July, and new home sales for June will be released.
On July 25 (Friday), data on durable-goods orders for June will be released.
Earnings
Following companies are due to report second quarter results in the week ahead — Verizon, Domino’s Pizza, Coca-Cola, Philip Morris, Lockheed Martin, General Motors, Alphabet, Tesla, IBM, AT&T, Blackstone, Honeywell, Intel, Nasdaq, Phillips 66, and Centene.
Markets Last Week
US stocks ended mixed on Friday amid a Financial Times report indicating US President Donald Trump was pushing for steep new tariffs on European Union products.
The report said the Trump administration was eyeing a minimum tariff of between 15% and 20% in any deal with the EU.
The S&P 500 fell 0.57 points, or 0.01%, to 6,296.79, and the Nasdaq Composite rose 10.01 points, or 0.05%, to 20,895.66. The Dow Jones Industrial Average lost 142.30 points, or 0.32%, to 44,342.19.
For the week, the S&P 500 added 0.59%, the Nasdaq gained 1.5%, and the Dow slipped 0.07%.
