Investors are expecting a slew of major corporate reports this week, as well as fresh housing and manufacturing data.
A better-than-expected retail sales report helped utilities rally on Friday, with the Dow Jones Industrial Average up 2.1%, the S&P up 1.9% and the Nasdaq Composite jumping 1.8%. Despite the rally, all three benchmarks fell for the week after consumer and producer prices climbed to new highs.
|Me: DJI||DOW JONES AVERAGES||31288.26||+658.09||+2.15%|
|Me: COMP||COMPOSITE INDEX NASDAQ||11452.421129||+201.24||+1.79%|
FOX Business is reviewing upcoming events that likely to shift financial markets In the next few days.
COPPER PRICES FALL WARNING NEW RECESSION WARNING
The week will start with profits from Bank of America, Charles Schwab, Goldman Sachs, Prologis and Synchrony Financial before the market opens. IBM will take over the earnings report after the call.
|TANK||BANK AMERICA CORP.||32.29||+2.38||+7.96%|
|SCHW||CHARLES SCHWAB CORP.||62.18||+1.61||+2.66%|
|GS||GOLDMAN SAX GROUP, INC.||293.69||+9.89||+3.48%|
|IBM||INTERNATIONAL BUSINESS MACHINES CORP.||139.92||+0.86||+0.62%|
In terms of economic data, investors’ attention will be focused on the NAHB Housing Market Index.
Also on Tuesday, Boeing will showcase its latest versions of the 737 Max and 777X at the Farnborough International Air Show.
On Tuesday, Ally Financial, Citizens Financial Group, Halliburton, Hasbro, Johnson & Johnson, Lockheed Martin and ManpowerGroup will release quarterly earnings reports ahead of the market opening.
|ALLY||ELLY FINANCIAL INC.||34.43||+1.29||+3.89%|
|CFG||CITIZENS FINANCIAL GROUP INC. (RHODE ISLAND)||36.80||+1.87||+5.35%|
|IT HAS||HASBRO INC.||79.21||-0.18||-0.23%|
|JNJ||JOHNSON AND JOHNSON||178.23||+2.55||+1.45%|
|LMT||LOCKHEED MARTIN CORP.||398.38||-1.93||-0.48%|
Stocks to watch for earnings after Tuesday’s bell include Cal-Maine, Interactive Brokers, JB Hunt Transport and Netflix.
|CALM||CAL-MAINE FOODS INC.||53.03||-0.14||-0.26%|
|IBKR||INTERACTIVE BROKERS GROUP INC.||54.81||+1.42||+2.66%|
|JBHT||JB HUNT TRANSPORT SERVICES INC.||167.58||+2.03||+1.23%|
With regard to economic data, investors will receive permits for the construction and commissioning of housing.
Tuesday also kicks off the two-day Goldman Sachs Small Business Summit, which will bring together more than 2,500 small business owners from across the country.
Speakers on Tuesday will include former New York Mayor and Bloomberg LP co-founder and CEO Michael Bloomberg, Berkshire Hathaway chairman and CEO Warren Buffett, Goop CEO and founder Gwyneth Paltrow, and Senators Ben Cardin, Kristen Cinema, Tim Scott and Marco Rubio. .
CITI FORECASTS HISTORIC 100 BPO P RATE HIGH AFTER INFLATION SHOCK
Wednesday earnings include Abbott Labs, Biogen, M&T Bank and Nasdaq Inc. before the market opens.
|MTB||M&T BANK CORP.||156.21||+5.64||+3.75%|
Meanwhile, Alcoa, CSX, Equifax and Tesla will release quarterly earnings reports after the call.
Wednesday’s economic data will include current home sales, weekly mortgage applications and the Energy Information Administration’s weekly crude oil inventories.
|SWBI||SMITH & WESSON BRANDS||13.15||+0.15||+1.15%|
|RGR||STURM RUGER & CO. INC.||62.85||+0.37||+0.59%|
On Capitol Hill, executives from Daniel Defense, Smith and Wesson and Strum Ruger were invited to testify before the House Oversight Committee at a hearing on gun violence. The House Subcommittee on Workforce Protection will also hold a hearing to assess the impact of the H2 visa program on workers.
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Thursday 21 July
Thursday will be the busiest day for earnings, with American Airlines, AT&T, AutoNation, Blackstone, DR Horton, Danaher, Domino’s Pizza and United Airlines among the companies to report before the market opened.
|AAL||AMERICAN AIRLINES GROUP INC.||14.47||+0.22||+1.54%|
|DHI||DR HORTON INC.||73.46||+0.82||+1.13%|
|DPZ||DOMINO’S PIZZA INC.||406.60||+7.45||+1.87%|
|UAL||UNITED AIRLINES HOLDINGS INC.||38.78||+0.93||+2.46%|
Companies that will profit after the call will include Boston Beer, Capital One Financial, Mattel, Snap, and Tenet Healthcare.
|SAM||BOSTON BEER CO. INC.||321.93||+1.75||+0.55%|
|KOF||CAPITAL ONE FINANCIAL CORP.||108.79||+5.36||+5.18%|
|TGK||TENET HEALTH COR.||55.55||+2.12||+3.97%|
Investors will also look at the Conference Board Leading Economics Index, the Philadelphia Federal Reserve Manufacturing Index and the latest data on ongoing and initial jobless claims. The Central Bank of Europe will also publish its decision on interest rates.
Rounding out the week are earnings reports for American Express, Cleveland-Cliffs, HCA Healthcare, NextEra Energy, Regions Financial, Roper Technologies, Schlumberger and Verizon before the market opens.
|AXP||AMERICAN EXPRESS CO.||142.48||+6.00||+4.40%|
|KLF||CLEVELAND SCLIFS INC.||14.99||+0.47||+3.24%|
|HCA||HCA HEALTHCARE INC.||171.61||+4.12||+2.46%|
|nee||NEXTERA ENERGY INC.||78.71||-1.42||-1.77%|
|RF||REGION FINANCIAL CORP.||19.19||+0.95||+5.21%|
|ROP||ROPER TECHNOLOGIES INC.||395.15||+7.01||+1.81%|
|VZ||VERIZON COMMUNICATIONS INC.||51.02||+0.53||+1.05%|
GameStop’s stock will also trade for the first time since the video game retailer’s 4-for-1 split.
Shareholders registered at the close of trading on July 18, 2022 will receive a dividend of three additional Class A GameStop common shares for each share they own. Dividends on shares will be distributed after the close of trading on July 21, 2022.
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