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A Federal Reserve policy meeting and dozens of second-quarter earnings reports will be the highlights of this week. There will also be data on consumer confidence, second quarter gross domestic product and US inflation.
More than 150
S&P500
companies are due to report this week.
Dominos Pizza
will start things on Monday, followed by
Alphabet
,
Microsoft
,
Visa
,
General Electric
,
Verizon Communications
,
General Engines
,
And
Waste Management
Tuesday.
Wednesday’s highlights will include
Metaplatforms
,
Chipotle Mexican Grill
,
And
eBay
.
Comcast
,
South West Airlines
,
Intel
,
American Tower
,
T-Mobile United States
,
And
Ford engine
report on Thursday, then
Chevron
,
Exxon Mobil
,
And
Procter & Gamble
close the week on Friday.
The Federal Open Market Committee will meet Tuesday and Wednesday, with a monetary policy decision and press conference with Chairman Jerome Powell on Wednesday afternoon. Futures markets are pricing overwhelming odds of a 0.25 percentage point hike in the fed funds rate, to 5.25%-5.50%.
Economic data released this week will include the Conference Board’s consumer confidence survey for July on Tuesday, the Bureau of Economic Analysis’s advance estimate for second-quarter U.S. gross domestic product growth on Thursday and the core personal consumption expenditure price index for June on Friday. The Fed’s preferred measure of inflation is expected to rise 4.2% from a year earlier, a 0.4 point deceleration from May.
monday 7/24
Cleveland Cliffs
,
dominoes,
International Logitech
,
And
NXP Semiconductors
release earnings.
Tuesday 7/25
Revenue Season continues with tech titans Alphabet and Microsoft releasing the results.
Spotify Technology
,
Snap
,
And
Texas Instruments
are also among the tech companies reporting on Tuesday.
3M
,
Alaska Air
,
Dow
,
General Electric, General Motors, Visa, Verizon, Waste Management and
Photocopy
should also post earnings.
S&P Core Logic releases its national Case-Shiller home price index for the month of May.
The conference board publishes its consumer confidence survey for the month of July.
Wednesday 07/26
The FOMC announces its monetary policy decision. Wall Street is certain the central bank will hike the fed funds rate by a quarter of a percentage point to 5.25%-5.50%, possibly the last rate hike for this cycle.
AT&T
,
Boeing
,
Chipotle,
Coca Cola
,
eBay and Meta should publish their results.
Thursday 07/27
The BEA publishes its preliminary estimate of gross domestic product growth in the second quarter. Economists forecast a seasonally adjusted annual growth rate of 1.4%.
American Tower,
boston beer
,
Bristol Myers Squibb
,
Global Carrier
,
Comcast,
Crocodile
,
Ford,
Hertz Worldwide
,
Intel,
National Live Entertainment
,
MasterCard
,
mcdonalds
It is
,
Northrop Grumman
,
P&E
,
Roku
,
Shell
,
Southwest, T-Mobile and
volkswagen
should publish results.
Friday 07/28
The BEA reports the core personal consumption expenditure 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.
Astra Zeneca
,
Chevron, Exxon Mobil, Procter & Gamble and
Sanofi
should publish results.
Write to Nicholas Jasinski at nicholas.jasinski@barrons.com