This past week, the Q2 earnings season kicked off with a lackluster performance from a few different companies. This led the Nasdaq down roughly half a point week over week, while the Dow, S&P, and Russell were all up between half a point and two points. The volatility we saw last week is bound to continue this week, as we have another jam-packed week of earnings as well as some important economic events!
Last week, we didn’t see many important economic data releases. However, the ones we did see relating to retail sales and real estate came in roughly in line with expectations. This, of course, is a great thing, as it means that the economy is stabilizing and becoming more and more predictable. This coming week, we won’t have nearly as slow of a week, though, and we’re bound to see the market get shaken up in a major way!
As we mentioned in the previous section, we’ve got some important economic data releases coming up this week. The most important of these releases is, of course, the FOMC Decision on interest rates. On Wednesday, the Fed will announce what they have decided to do in terms of the federal funds rate, and Jerome Powell will speak about their decision shortly thereafter. While most are expecting a quarter-point hike, the Fed may surprise with a half-point. However, at this point in time, that seems very unlikely.
In addition to the interest rate decision, we’ll also get to hear the first report of Q2 GDP and pending home sales on Thursday. On Friday, we’ll get to see nominal personal income and spending information, as well as PCE data.
This week, Q2 earnings season really kicks off, with some of the largest companies in the world reporting their earnings, such as:
07/24 – NXP Semiconductors (NXPI), Ryanair Holdings (RYAAY), Brown & Brown, Inc. (BRO), Domino’s Pizza (DPZ)
07/25 – Microsoft Corporation (MSFT), Alphabet Inc. (GOOG/GOOGL), Visa (V), Danaher Corporation (DHR), Texas Instruments Inc. (TXN), Raytheon Technologies Corp. (RTX), Verizon Communications (VZ), General Electric Company (GE)
07/26 – Meta Platforms (META), Coca-Cola Company (KO), ServiceNow Inc. (NOW), Thermo Fisher Scientific (TMO), Union Pacific Corporation (UNP), Boeing Company (BA), AT&T Inc. (T), Automatic Data Processing Inc. (ADP), Equinor (EQNR), Lam Research Corporation (LRCX)
07/27 – Amazon.com (AMZN), Mastercard Inc. (MA), AbbVie Inc. (ABBV), McDonald’s Corporation (MCD), Shell PLC (SHEL), Linde plc (LIN), Comcast Corporation (CMCSA), T-Mobile US, Inc., (TMUS), Intel Corporation (INTC), Honeywell International (HON), S&P Global (SPGI), Bristol-Myers Squibb Company (BMY)
07/28 – Exxon Mobil Corporation (XOM), Procter & Gamble Company (PG), Chevron Corporation (CVX), AstraZeneca PLC (AZN), Sanofi (SNY), ICICI Bank Limited (IBN), Colgate-Palmolive Company (CL), Charter Communications Inc. (CHTR)
The most important earnings releases this week will be coming from big tech. MSFT, GOOG, META, and AMZN are bound to move the market in a major way if they report any unexpected findings.
The payment processors, V and MA, will also report earnings this week, which will give us a better handle on the consumer and how they are spending their money.
We’ll also get to hear from some very important semiconductor companies, like NXPI, TXN, and INTC. It will be interesting to hear how their businesses are changing amidst the incredibly high demand for AI chips and whether or not they have been able to take any market share in this important segment.
Monitoring the market conditions this week.
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