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 US housing-market data releases and a pair of monetary policy decisions from abroad.
Earnings highlights will include Bank of America,
and IBM on Monday, followed by Netflix,
and Johnson & Johnson on Tuesday.
Tesla and United Airlines Holdings report on Wednesday, then AT&T,
Dow, Snap, American Airlines Group,
Domino’s Pizza, and Freeport-McMoRan all go on Thursday. Results from American Express,
and Twitter will close the week on Friday.
On Thursday, the Bank of Japan is expected to keep its target interest rate steady at negative 0.1%. Later that day, the European Central Bank is expected to raise its key interest rate by 25 basis points, from negative 0.5% to negative 0.25%. The Federal Reserve’s next monetary policy meeting is on July 26-27.
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.
Finally, the Conference Board releases its Leading Economic Index for June on Thursday and S&P Global releases both its Manufacturing and Services Purchasing Managers’ Indexes for July on Friday.
Bank of America, Charles Schwab,
Goldman Sachs Group, IBM, and Prologis 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.
Citizens Financial Group,
JB Hunt Transport Services,
Johnson & Johnson, Lockheed Martin, Netflix, Novartis,
and Truist Financial 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.
Crown Castle International,
Discover Financial Services,
Nasdaq, Tesla, and United Airlines Holdings 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.
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 Group, AT&T, Blackstone, Capital One Financial,
Danaher, Dow, Freeport-McMoRan, Intuitive Surgical,
Philip Morris International,
SAP, Snap, Travelers, and Union Pacific hold conference calls to discuss quarterly results.
The Bank of Japan announces its monetary-policy decision. 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.
American Express, HCA Healthcare,
Twitter, and Verizon Communications 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.
Write to Nicholas Jasinski at [email protected]
Credit: www.marketwatch.com /