What to Expect in the Week Ahead (MSFT, GOOGL, META Earnings; FOMC Decision on Interest-Rate Policy)

Moomoo Breakfast US wrote a column · Jul 23, 2023 19:58

What to Expect in the Week Ahead (MSFT, GOOGL, META Earnings; FOMC Decision on Interest-Rate Policy)

A Federal Reserve policy meeting and dozens of second-quarter earnings reports will be this week's highlights. There will also be data on consumer confidence, second-quarter gross domestic product, and U.S. inflation.

More than 150 $S&P 500 Index(.SPX.US)$ companies are scheduled to report this week. $Whirlpool(WHR.US)$ will get things started on Monday, followed by $Alphabet-A(GOOGL.US)$, $Microsoft(MSFT.US)$, $Visa(V.US)$, $GE Aerospace(GE.US)$ and $General Motors(GM.US)$ on Tuesday.

Wednesday's highlights will include $Meta Platforms(META.US)$, $Chipotle Mexican Grill(CMG.US)$, and $Coca-Cola(KO.US)$. $McDonald's(MCD.US)$, $Intel(INTC.US)$, $MasterCard(MA.US)$ and $Ford Motor(F.US)$ report on Thursday, then $Procter & Gamble(PG.US)$, $Exxon Mobil(XOM.US)$ , and $Saia(SAIA.US)$ close the week on Friday.

The Federal Open Market Committee will convene on Tuesday and Wednesday, with a monetary-policy decision and press conference with chairman Jerome Powell due on Wednesday afternoon. Futures markets are pricing in overwhelming odds of a 0.25 percentage point increase in the federal-funds rate, to 5.25%-5.50%.

Economic data out this week will include the Conference Board's consumer confidence survey for July on Tuesday, Bureau of Economic Analysis' advance estimate for U.S. second-quarter gross-domestic-product growth on Thursday, and the core personal consumption expenditures price index for June on Friday. The Fed's preferred measure of inflation is forecast to be up 4.2% from a year earlier, a deceleration of 0.4 points compared with May.

Monday 7/24

$Whirlpool(WHR.US)$, $Packaging Corp of America(PKG.US)$, and $NXP Semiconductors(NXPI.US)$ release earnings.

Tuesday 7/25

Earnings season rolls on with tech titans $Alphabet-A(GOOGL.US)$ and $Microsoft(MSFT.US)$ releasing results. $Spotify Technology(SPOT.US)$ is also among the tech companies that report Tuesday.

$3M(MMM.US)$, $GE Aerospace(GE.US)$, $General Motors(GM.US)$, and $Visa(V.US)$ are also expected to release earnings.

S&P CoreLogic releases its Case-Shiller National Home Price Index for May.

The Conference Board releases its consumer confidence survey for July.

Wednesday 7/26

The FOMC announces its monetary-policy decision. Wall Street is certain that the central bank will raise the federal-funds rate by a quarter of a percentage point to 5.25%-5.50%, possibly the last rate hike for this cycle.

$Boeing(BA.US)$, $Chipotle Mexican Grill(CMG.US)$, $Coca-Cola(KO.US)$ and $Meta Platforms(META.US)$ are expected to release results.

Thursday 7/27

The BEA releases its advance estimate for second-quarter gross-domestic-product growth. Economists forecast a seasonally adjusted annual growth rate of 1.7%.

$Ford Motor(F.US)$, $Intel(INTC.US)$, $MasterCard(MA.US)$, $McDonald's(MCD.US)$, and $Norfolk Southern(NSC.US)$ are expected to release results.

Friday 7/28

The BEA reports the core personal consumption expenditures price index for June, which is expected to rise 4.2% from a year earlier, four-tenths of a percentage point less than in May.