It will be a busy week on both the micro and macro fronts. Second-quarter earnings season ramps up, as more than 150
S&P 500
firms report, including Big Tech. The Federal Reserve’s policy committee will announce an interest-rate decision on Wednesday afternoon, and economists will get a look at a bevy of new data.
Wednesday will bring results from
Meta Platforms
,
Boeing
,
Qualcomm
,
Ford Motor
,
T-Mobile US
,
Etsy
,
and
Spotify Technology
.
Apple
,
Amazon.com
,
Pfizer
,
Intel
,
Mastercard
,
and
Honeywell International
report on Thursday, then
Exxon Mobil
,
Procter & Gamble
,
and
Chevron
close the week on Friday.
The Federal Open Market Committee meets on Tuesday and Wednesday. The central bank is certain to raise its target interest rate—the question is whether that be a 75 basis points or 100 basis points hike.
Economic data out this week will include the S&P CoreLogic Case-Shiller National Home Price Index for May and the Conference Board’s Consumer Confidence Index for July, both on Tuesday. The Census Bureau releases the preliminary durable goods report for June on Wednesday, then the Bureau of Economic Analysis releases its preliminary estimate for second-quarter 2022 gross domestic product on Thursday and the BEA reports personal income and spending data for June on Friday.
Finally, the Federal Reserve’s preferred inflation measure, the core personal consumption expenditures price index for June, is out on Friday. That’s expected to be up 4.8% from a year ago.
Monday 7/25
Whirlpool,
Vodafone Group
,
Range Resources,
Newmont
,
NXP Semiconductors, and Philips release financial results.
Tuesday 7/26
Visa,
UPS
,
Microsoft,
Kimberly-Clark
,
Mondelez International
,
Unilever
,
Stryker,
3M
,
Chipotle Mexican Grill, Skechers,
Raytheon Technologies
,
PulteGroup
,
Moody’s
,
McDonald’s
,
General Motors
,
Coca-Cola, Alphabet, and General Electric host earnings calls.
The S&P CoreLogic Case-Shiller National Home Price Index for May is released. Home prices are expected to rise 21.1% year over year, compared with April’s 21.2% gain.
The Conference Board releases its Consumer Confidence Index for July. Economists forecast a 97 reading, a drop from June’s 98.7.
The Census Bureau reports new residential home sales data for June. Consensus estimate is for a seasonally adjusted annual rate of 680,000 new units, versus 696,000 in May.
Wednesday 7/27
The Federal Open Market Committee announces its monetary-policy decision. The central bank is expected to raise the federal-funds rate by 75 basis points.
Meta Platforms,
Bristol Myers Squibb
,
GSK, Boeing,
Teladoc Health
,
Sherwin-Williams
,
Qualcomm,
Humana
,
Ford Motor,
Genuine Parts
,
CME Group
,
General Dynamics
,
Kraft Heinz
,
T-Mobile US, Etsy, Spotify Technology, and
Danone
report financial results.
The Census Bureau releases the preliminary durable goods report for June. Economists forecast that new orders increased 0.3% month over month from May’s 0.81% rise.
Thursday 7/28
Apple, Amazon.com,
Samsung Electronics
,
Harley-Davidson
,
Volkswagen Group
,
Tilray Brands
,
Vivendi
,
Altria Group
,
Roku, Pfizer, Merck, Intel, Mastercard,
Southwest Airlines
,
Honeywell International, Shell, and
Northrop Grumman
report financial results.
The Bureau of Economic Analysis releases its preliminary estimate for second-quarter 2022 gross domestic product. The forecast is for a 1.6% rate of growth, after a 1.6% contraction in the first quarter.
Friday 7/29
Weyerhaeuser
,
Phillips 66
,
Exxon Mobil, Procter & Gamble, Colgate-Palmolive, Chevron,
AbbVie
,
and
Sony
discuss financial results.
The BEA reports personal income and spending data for June. Personal income is expected to rise 0.5% month over month, while spending is seen rising 1%. This compares with gains of 0.5% and 0.2%, respectively, in May.
The Federal Reserve reports the core personal-consumption expenditures price index for June. Consensus estimate is for the core PCE index to jump 4.8% year over year, compared with 4.7% in May.
Write to Nicholas Jasinski at nicholas.jasinski@barrons.com
Discussion about this post