What to expect in the week ahead (TSLA, NFLX, BAC, GS)

Moomoo Breakfast US wrote a column · Jul 17, 2022 19:40

What to expect in the week ahead (TSLA, NFLX, BAC, GS)

The week ahead in focus

Second-quarter earnings season continues this week, with roughly 70 S&P 500 firms scheduled to report. Events on the economic calendar this week will include several U.S. housing-market data releases and a pair of monetary policy decisions from abroad.

On Monday, the National Association of Home Builders will release its Housing Market Index for July, followed by the Census Bureau's new residential construction statistics for June on Tuesday and the National Association of Realtors' existing-home sales for June on Thursday.

Monday 7/18

$Bank of America(BAC.US)$, $Charles Schwab(SCHW.US)$, $Goldman Sachs(GS.US)$, $IBM Corp(IBM.US)$, and $Prologis(PLD.US)$ report earnings.

The National Association of Home Builders releases its Housing Market Index for July. Consensus estimate is for a 64 reading, three points fewer than the June figure, a two-year low.

Tuesday 7/19

$Citizens Financial(CFG.US)$ , $Halliburton(HAL.US)$, $Hasbro(HAS.US)$, $JB Hunt Transport Services(JBHT.US)$, $Johnson & Johnson(JNJ.US)$, $Lockheed Martin(LMT.US)$, $Netflix(NFLX.US)$, $Omnicom Group(OMC.US)$, and $Truist Financial(TFC.US)$ announce quarterly results.

The Census Bureau reports new residential construction statistics for June. Economists forecast a seasonally adjusted annual rate of 1.58 million privately owned housing starts, 1.7% higher than in May. Starts have fallen sharply this year and are at their lowest levels since April of last year.

Wednesday 7/20

$Abbott Laboratories(ABT.US)$, $ASML Holding(ASML.US)$, $Baker Hughes(BKR.US)$, $Biogen(BIIB.US)$, $Crown Castle(CCI.US)$, $CSX Corp(CSX.US)$, $Discover Financial Services(DFS.US)$, $Elevance Health(ELV.US)$, $Kinder Morgan(KMI.US)$, $Nasdaq(NDAQ.US)$, $Tesla(TSLA.US)$, and $United Airlines(UAL.US)$ release earnings.

The National Association of Realtors reports existing-home sales for June. Expectations are for existing-home sales to decline 0.7% to a seasonally adjusted annual rate of 5.37 million. Existing-home sales have declined for four consecutive months.

Thursday 7/21

The European Central Bank announces its monetary-policy decision. ECB President Christine Lagarde said that it intends to raise the key interest rate by 25 basis points from negative 0.5% to negative 0.25%.

$American Airlines(AAL.US)$, $AT&T(T.US)$, $Blackstone(BX.US)$, $Capital One Financial(COF.US)$, $D.R. Horton(DHI.US)$, $Danaher(DHR.US)$, $Dow Inc(DOW.US)$, $Freeport-McMoRan(FCX.US)$, $Intuitive Surgical(ISRG.US)$, $Marsh & McLennan(MMC.US)$, $Nucor(NUE.US)$, $Philip Morris International(PM.US)$, $SAP SE(SAP.US)$, $Snap Inc(SNAP.US)$, $The Travelers Companies(TRV.US)$, and $Union Pacific(UNP.US)$ hold conference calls to discuss quarterly results.

The central bank is expected to keep interest rates unchanged at negative 0.1%. The yen recently hit a 24-year low against the dollar, as the BOJ and Federal Open Market Committee have taken divergent paths regarding interest rates.

The Conference Board releases its Leading Economic Index for June. Consensus estimate is for a 0.4% month-over-month decline, matching May's drop.

Friday 7/22

$American Express(AXP.US)$, $HCA Healthcare(HCA.US)$, $NextEra Energy(NEE.US)$, $Roper Technologies(ROP.US)$, $Schlumberger(SLB.US)$, $Twitter (Delisted)(TWTR.US)$, and $Verizon(VZ.US)$ report earnings.

S&P Global releases both its Manufacturing and Services Purchasing Managers' Indexes for July. Expectations are for a 51.5 reading for the Manufacturing PMI and a 53 for the Services PMI. Both indexes registered a 52.7 reading in June.

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