Week Ending July 15, 2023: $190.69 +$0.01 +0.00%
Jul 14, 2023 13:07:47 GMT -8
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Post by Dave on Jul 14, 2023 13:07:47 GMT -8
Green is green, even if it’s only a penny.
What to Expect in the Markets Next Week
Events Calendar:
Monday, July 17
Equity Lifestyle Properties Inc. (ELS) reports earnings
New York Empire State Manufacturing Index (Jul)
Tuesday, July 18
Bank of America (BAC), Morgan Stanley (MS), Novartis (NVS), Lockheed Martin (LMT), Prologis Inc. (PLD), The Charles Schwab Corporation (SCHW), PNC Financial Services (PNC), Bank of New York Mellon (BK), J.B. Hunt Transport Services (JBHT), Omnicom Group Inc. (OMC), Synchrony Financial (SYF), and Hasbro Inc. (HAS) report earnings
U.S. Retail Sales (Jun)
Industrial Production (Jun)
Business Inventories (May)
Retail Inventories (May)
NAHB Housing Market Index (Jul)
Wednesday, July 19
Tesla (TSLA), Netflix (NFLX), IBM (IBM), Goldman Sachs (GS), Elevance Health (ELV), U.S. Bancorp (USB), Crown Castle Inc. (CCI), Las Vegas Sands (LVS), Biogen Inc. (BIIB), Kinder Morgan (KMI), Baker Hughes Co. (BKR), Halliburton (HAL), Discover Financial Services (DFS), Equifax Inc. (EFX), Nasdaq Inc. (NDAQ), and United Airlines (UAL) report earnings
Housing Starts (Jun)
Building Permits (Jun)
U.K. Inflation Rate (Jun)
Euro Area Inflation Rate (Jun)
Thursday, July 20
Taiwan Semiconductor Manufacturing Company (TSM), Johnson & Johnson (JNJ), Abbott Laboratories (ABT), SAP (SAP), Philip Morris International (PM), Intuitive Surgical Inc. (ISRG), Marsh & McLennan Cos. (MMC), CSX Corporation (CSX), Blackstone Inc. (BX), Freeport McMoran (FCX), Kenvue (KVUE), Truist Financial Corp. (TFC), Capital One Financial (COF), D.R. Horton (DHI), and The Travelers Companies (TRV), and Newmont Corp. (NEM) report earnings
Philadelphia Fed Manufacturing Index (Jul)
Conference Board Leading Index (Jun)
Existing Home Sales (Jun)
Japan Inflation Rate (Jun)
Friday, July 21
American Express Co. (AXP), HDFC Bank Ltd. (HDB), The Progressive Corporation (PGR), Schlumberger (SLB), Roper Technologies Inc. (ROP), Regions Financial Corp. (RF), and Huntington Bancshares Inc. (HBAN) report earnings
A Busy Week of Earnings
Earnings season is set to enter a busy week with Bank of America, Morgan Stanley, Lockheed Martin, Tesla, Netflix, IBM, Goldman Sachs, Johnson & Johnson, United Airlines, and many others reporting earnings.
On Tuesday, investors will be monitoring Bank of America’s earnings for clues as to how the Fed’s rate hikes have impacted profitability at big banks. Bank of America’s interest margins were likely boosted by higher interest rates. Net interest income at America’s second-largest bank is projected at $14.29 billion, up 14% from the same quarter last year, according to research from Zacks.
June Retail Sales
On Tuesday, the U.S. Census Bureau will release June retail sales figures, providing a timely update on consumer spending. Retail sales, which are not adjusted for inflation, likely rose 0.5% last month, extending May’s 0.3% gain. Year-over-year, they were likely up just 1.1%, which would mark the smallest annual increase since a decline early in the pandemic. Consumer spending, which accounts for more than two-thirds of U.S. gross domestic product (GDP), has been robust over the past two years despite high inflation and lingering recession fears.
Housing Market Updates
We’ll get the latest updates on the housing market next week, including June building permits, housing starts, and existing home sales, and the NAHB’s Housing Market Index for July. Housing starts, a proxy for home construction, likely fell drastically to 1.45 million units in June, after unexpectedly surging to 1.63 million units in May, which marked the highest figure in over a year. Building permits were probably little changed last month, holding steady near 1.49 million units.
On Thursday, the National Association of Realtors (NAR) will release last month’s existing home sales figures. They’re projected to have fallen slightly to 4.23 million units from 4.3 million in May. Sales tumbled last year as rising mortgage rates impacted housing demand, bottoming out at four million units in December, which marked the lowest figure since 2010. Sales have rebounded since, but could resume their downward slide if mortgage rates continue to rise, driven by the Federal Reserve’s interest rate hikes.
It looks like earnings season is starting.
What to Expect in the Markets Next Week
Events Calendar:
Monday, July 17
Equity Lifestyle Properties Inc. (ELS) reports earnings
New York Empire State Manufacturing Index (Jul)
Tuesday, July 18
Bank of America (BAC), Morgan Stanley (MS), Novartis (NVS), Lockheed Martin (LMT), Prologis Inc. (PLD), The Charles Schwab Corporation (SCHW), PNC Financial Services (PNC), Bank of New York Mellon (BK), J.B. Hunt Transport Services (JBHT), Omnicom Group Inc. (OMC), Synchrony Financial (SYF), and Hasbro Inc. (HAS) report earnings
U.S. Retail Sales (Jun)
Industrial Production (Jun)
Business Inventories (May)
Retail Inventories (May)
NAHB Housing Market Index (Jul)
Wednesday, July 19
Tesla (TSLA), Netflix (NFLX), IBM (IBM), Goldman Sachs (GS), Elevance Health (ELV), U.S. Bancorp (USB), Crown Castle Inc. (CCI), Las Vegas Sands (LVS), Biogen Inc. (BIIB), Kinder Morgan (KMI), Baker Hughes Co. (BKR), Halliburton (HAL), Discover Financial Services (DFS), Equifax Inc. (EFX), Nasdaq Inc. (NDAQ), and United Airlines (UAL) report earnings
Housing Starts (Jun)
Building Permits (Jun)
U.K. Inflation Rate (Jun)
Euro Area Inflation Rate (Jun)
Thursday, July 20
Taiwan Semiconductor Manufacturing Company (TSM), Johnson & Johnson (JNJ), Abbott Laboratories (ABT), SAP (SAP), Philip Morris International (PM), Intuitive Surgical Inc. (ISRG), Marsh & McLennan Cos. (MMC), CSX Corporation (CSX), Blackstone Inc. (BX), Freeport McMoran (FCX), Kenvue (KVUE), Truist Financial Corp. (TFC), Capital One Financial (COF), D.R. Horton (DHI), and The Travelers Companies (TRV), and Newmont Corp. (NEM) report earnings
Philadelphia Fed Manufacturing Index (Jul)
Conference Board Leading Index (Jun)
Existing Home Sales (Jun)
Japan Inflation Rate (Jun)
Friday, July 21
American Express Co. (AXP), HDFC Bank Ltd. (HDB), The Progressive Corporation (PGR), Schlumberger (SLB), Roper Technologies Inc. (ROP), Regions Financial Corp. (RF), and Huntington Bancshares Inc. (HBAN) report earnings
A Busy Week of Earnings
Earnings season is set to enter a busy week with Bank of America, Morgan Stanley, Lockheed Martin, Tesla, Netflix, IBM, Goldman Sachs, Johnson & Johnson, United Airlines, and many others reporting earnings.
On Tuesday, investors will be monitoring Bank of America’s earnings for clues as to how the Fed’s rate hikes have impacted profitability at big banks. Bank of America’s interest margins were likely boosted by higher interest rates. Net interest income at America’s second-largest bank is projected at $14.29 billion, up 14% from the same quarter last year, according to research from Zacks.
June Retail Sales
On Tuesday, the U.S. Census Bureau will release June retail sales figures, providing a timely update on consumer spending. Retail sales, which are not adjusted for inflation, likely rose 0.5% last month, extending May’s 0.3% gain. Year-over-year, they were likely up just 1.1%, which would mark the smallest annual increase since a decline early in the pandemic. Consumer spending, which accounts for more than two-thirds of U.S. gross domestic product (GDP), has been robust over the past two years despite high inflation and lingering recession fears.
Housing Market Updates
We’ll get the latest updates on the housing market next week, including June building permits, housing starts, and existing home sales, and the NAHB’s Housing Market Index for July. Housing starts, a proxy for home construction, likely fell drastically to 1.45 million units in June, after unexpectedly surging to 1.63 million units in May, which marked the highest figure in over a year. Building permits were probably little changed last month, holding steady near 1.49 million units.
On Thursday, the National Association of Realtors (NAR) will release last month’s existing home sales figures. They’re projected to have fallen slightly to 4.23 million units from 4.3 million in May. Sales tumbled last year as rising mortgage rates impacted housing demand, bottoming out at four million units in December, which marked the lowest figure since 2010. Sales have rebounded since, but could resume their downward slide if mortgage rates continue to rise, driven by the Federal Reserve’s interest rate hikes.
It looks like earnings season is starting.