Apple, Tesla, Amazon, Exxon Mobil, Pfizer, and different shares to be careful for this week
It’s the busiest week of the reporting season in the second quarter. About a third of that
Companies should report.
let go of things
onday followed by a full Tuesday:
Headline a day with 42 reports.
Publication of the results on Wednesday. then
report on Thursday. After all,
Procter & Gamble
close the week on Friday.
It will also be a busy week for IPOs. The highlight will be the Robinhood Markets investment app, which is expected to go on sale on Thursday. It is aiming for a valuation of around $ 35 billion.
There will be a lot to do in the economic calendar this week as well. The Federal Reserve Policy Committee concluded a two-day session on Wednesday. A change in interest rates is off the table, but officials could reveal more information about their schedule for reducing bond purchases. Fed Chairman Jerome Powell’s post-session press conference will be a must.
On Thursday, the Bureau of Economic Analysis released its first official estimate of US gross domestic product for the second quarter. Economists expect a seasonally adjusted annual growth rate of 9.1% compared to 6.4% in the first quarter.
Other data released this week includes the Conference Board’s consumer confidence index for July and the Department of Commerce’s durable goods orders for June, both on Tuesday. The latter is often seen as a decent proxy for business investment.
Monday, July 26th
Cadence Design Systems,
Lockheed Martin, Otis Worldwide and Tesla announce quarterly results.
The Census Bureau reports new single family home sales for June. Economists forecast a seasonally adjusted annual rate of 800,000 new homes sold, 4% more than 769,000 in May.
Tuesday, July 27th
It’s a big day for megacap tech Merits. Alphabet, Apple and Microsoft will publish quarterly results. The three companies are among the five largest in the world by market value, valued at $ 6.4 trillion.
modern micro devices,
United Parcel Service,
and Visa announce receipts.
The conference board publishes its consumer confidence index for July. The consensus estimate is 124, lower than June’s 127.3. The June reading was the highest for the index since the pandemic began.
S&P CoreLogic publishes its Case-Shiller National Home Price Index for May. A year-on-year increase of 16.4% is expected, after an increase of 14.6% in April. The April peak was a record for the index dating back to 1988 when the first data was collected.
Wednesday, July 28th
Automatic data processing,
Bristol Myers Squibb,
Facebook, ford engine,
PayPal Holdings, Pfizer, Qualcomm, Shopify, and
Thermo Fisher Scientific
Publish quarterly results.
The Federal Reserve Open Market Committee announces its monetary policy decision. The FOMC is expected to keep the key rate unchanged near zero. Wall Street expects the central bank to announce a schedule sometime before the September meeting to reduce its bond purchases from currently around $ 120 billion a month.
Thursday, July 29th
Amazon.com, Comcast, Hershey,
Hilton Worldwide Holdings,
Molson Coors drinks,
and T-Mobile US will hold conference calls to discuss revenue.
Robinhood Markets, the commission-free investment app, is expected to be traded on the Nasdaq stock exchange under the ticker HOOD. Robinhood plans to offer 55 million shares at $ 38 to $ 42 per share, which equates to a value of approximately $ 35 billion to the company.
The economic office The analysis announces its preliminary estimate of gross domestic product for the second quarter. Economists are forecasting a seasonally adjusted annual growth rate of 9.1%, after an increase of 6.4% in the first quarter. The Federal Reserve is currently forecasting GDP growth of 7% in 2021, which would be the fastest growth rate since 1984.
Friday, July 30th
Caterpillar, Charter Communications, Chevron, Colgate-Palmolive, Exxon Mobil, Procter & Gamble and
Report quarterly results.
Write to Nicholas Jasinski at [email protected]