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.
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.
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