Monday July 25, 2022: $152.95 -($1.14) -(0.74%)
Jul 25, 2022 1:35:24 GMT -8
CdnPhoto, artman1033, and 1 more like this
Post by Dave on Jul 25, 2022 1:35:24 GMT -8
Good morning. We start this trading week with a green pre-market at +0.35%. Hopefully just the beginning.
What to Expect in the Markets Next Week
What to Expect in the Markets Next Week
Events Calendar:
Monday, July 25
Newmont Corp. (NEM), Ryanair (RYAAY), and Whirlpool (WHR) report earnings
Chicago Fed National Activity Index (June)
Dallas Fed Manufacturing Index (July)
Tuesday, July 26
Microsoft (MSFT), Alphabet (GOOG), Visa (V), Coca-Cola Company (KO), McDonald’s (MCD), United Parcel Service (UPS), Texas Instruments (TXN), Raytheon (RTX), Mondelez International (MDLZ), Chubb Limited (CB), 3M (MMM), Stryker (SYK), General Electric (GE), UBS (UBS), Moody’s (MCO), Centene (CNC), General Motors (GM), Kimberly-Clark (KMB), Chipotle (CMG), MSCI Inc. (MSCI), and Enphase Energy (ENPH) report earnings
Day 1 of July FOMC Policy Meeting
S&P Case-Shiller National Home Price Index (May)
Freddie Mac National House Price Index (May)
New Home Sales (June)
CB Consumer Confidence (July)
Richmond Fed Manufacturing Index (July)
Wednesday, July 27
Meta Platforms (META), Qualcomm (QCOM), T-Mobile (TMUS), Bristol-Myers Squibb (BMY), Boeing (BA), ADP (ADP), CME Group (CME), Sherwin-Williams (SHW), Humana (HUM), General Dynamics (GD), Norfolk Southern (NSC), Ford (F), Shopify (SHOP), Kraft Heinz (KHC), O’Reilly Automotive (ORLY), Banco Santander (SAN), Cognizant (CTSH), Lloyds Banking Group (LYG), Barclays (BCS), Hilton (HLT), Suncor Energy (SU), Hess Corporation (HES), Canon (CAJ), Duke Realty (DRE), Spotify (SPOT), Garmin (GRMN), Deutsche Bank (DB), Etsy (ETSY), and Morningstar (MORN) report earnings
Day 2 of July FOMC Policy Meeting; Interest Rate Decision
Retail and Wholesale Inventories (June)
Durable Goods Orders (June)
Goods Trade Balance (June)
Pending Home Sales (June)
Thursday, July 28
Apple (AAPL), Amazon (AMZN), Mastercard (MA), Pfizer (PFE), Merck (MRK), Thermo Fisher (TMO), Comcast (CMCSA), Intel (INTC), Linde (LIN), Sanofi (SNY), Honeywell (HON), American Tower (AMT), Altria (MO), Northrop Grumman (NOC), Canadian Pacific Railway (CP), Edwards Lifesciences (EW), Keurig Dr. Pepper (KDP), Hershey (HSY), Valero Energy (VLO), Stellantis (STLA), Xcel Energy (XEL), T. Rowe Price Group (TROW), Sirius XM (SIRI), Southwest Airlines (LUV), Willis Towers Watson (WTW), Roku (ROKU), and First Solar (FSLR) report earnings
U.S. Real GDP Growth Rate - Advance Estimate (Q2 2022)
Real Consumer Spending (Q2 2022)
Kansas Fed Composite Index (July)
Friday, July 29
ExxonMobil (XOM), Procter & Gamble (PG), Chevron (CVX), AbbVie (ABBV), Astrazeneca (AZN), Sony (SONY), Charter Communications (CHTR), Enbridge (ENB), Colgate Palmolive (CL), Takeda Pharmaceuticals (TAK), Phillips 66 (PSX), and CBOE Global Markets (CBOE) report earnings
Personal Income and Spending (June)
Personal Consumption Expenditures (PCE) Price Index (June)
Chicago Purchasing Managers’ Index (PMI) (July)
Michigan Consumer Sentiment Index - Final Reading (July)
Earnings From Big Tech
Next week will be a highly eventful one for corporate earnings, with dozens of prominent companies, among them big tech firms, scheduled to report second-quarter earnings. On Tuesday, the earnings spotlight will be on Microsoft and Alphabet—the parent company of Google—as the two tech giants report their second-quarter earnings. Meta Platforms, the parent company of Facebook, will report on Wednesday, followed by earnings from Apple and Amazon on Thursday. Upbeat earnings are expected from Google parent Alphabet, driven by surging sales revenue from its cloud computing business. Microsoft earnings will also be of particular interest after the company reported increased first-quarter revenue from its business productivity and cloud computing segments.
The outcome of next week’s earnings reports will be crucial in determining the trajectory of U.S. stocks over the upcoming weeks. Despite a recent rally over the past week, the U.S. equity market remains deep in negative territory this year, with the S&P 500 having fallen nearly 17% year-to-date. U.S. stocks previously entered bear market territory in June, defined as a decline of 20% or more from a previous peak. The technology sector has been among the worst-performing market sectors this year, with shares of tech firms leading market declines.
Federal Reserve's July Policy Meeting
On Tuesday and Wednesday of next week, officials from the U.S. Federal Reserve will gather to attend the two-day July policy meeting of the Federal Open Market Committee (FOMC). The nation’s central bank is widely expected to raise its benchmark federal funds rate by a minimum of 75 basis points (bps) in order to tame persistently high inflation. Since March, the Federal Reserve has raised its benchmark rate by a cumulative 150 basis points, to a current range of 1.5 to 1.75%, most recently conducting a 75 bp rate hike at its June policy meeting. Fed policymakers are now projecting a year-end fed funds rate of 3.25 to 3.5%, with an additional rate hike expected in September.
Second Quarter GDP Estimate
On Thursday, the Bureau of Economic Analysis (BEA) will release the advance estimate for second-quarter U.S. gross domestic product (GDP) growth, indicating whether the U.S. economy expanded or contracted during the second quarter. The U.S. economy previously contracted 1.6% at a seasonally-adjusted annual rate during the first quarter. Market watchers and economists will be closely monitoring the release, as two consecutive quarters of negative GDP growth is often used by the National Bureau of Economic Research (NBER) as a historical proxy for dating a recession. The latest estimate published by the Atlanta Fed’s GDPNow tracker calls for a 1.6% contraction in real GDP, equal to the rate of decline during the first quarter.
Monday, July 25
Newmont Corp. (NEM), Ryanair (RYAAY), and Whirlpool (WHR) report earnings
Chicago Fed National Activity Index (June)
Dallas Fed Manufacturing Index (July)
Tuesday, July 26
Microsoft (MSFT), Alphabet (GOOG), Visa (V), Coca-Cola Company (KO), McDonald’s (MCD), United Parcel Service (UPS), Texas Instruments (TXN), Raytheon (RTX), Mondelez International (MDLZ), Chubb Limited (CB), 3M (MMM), Stryker (SYK), General Electric (GE), UBS (UBS), Moody’s (MCO), Centene (CNC), General Motors (GM), Kimberly-Clark (KMB), Chipotle (CMG), MSCI Inc. (MSCI), and Enphase Energy (ENPH) report earnings
Day 1 of July FOMC Policy Meeting
S&P Case-Shiller National Home Price Index (May)
Freddie Mac National House Price Index (May)
New Home Sales (June)
CB Consumer Confidence (July)
Richmond Fed Manufacturing Index (July)
Wednesday, July 27
Meta Platforms (META), Qualcomm (QCOM), T-Mobile (TMUS), Bristol-Myers Squibb (BMY), Boeing (BA), ADP (ADP), CME Group (CME), Sherwin-Williams (SHW), Humana (HUM), General Dynamics (GD), Norfolk Southern (NSC), Ford (F), Shopify (SHOP), Kraft Heinz (KHC), O’Reilly Automotive (ORLY), Banco Santander (SAN), Cognizant (CTSH), Lloyds Banking Group (LYG), Barclays (BCS), Hilton (HLT), Suncor Energy (SU), Hess Corporation (HES), Canon (CAJ), Duke Realty (DRE), Spotify (SPOT), Garmin (GRMN), Deutsche Bank (DB), Etsy (ETSY), and Morningstar (MORN) report earnings
Day 2 of July FOMC Policy Meeting; Interest Rate Decision
Retail and Wholesale Inventories (June)
Durable Goods Orders (June)
Goods Trade Balance (June)
Pending Home Sales (June)
Thursday, July 28
Apple (AAPL), Amazon (AMZN), Mastercard (MA), Pfizer (PFE), Merck (MRK), Thermo Fisher (TMO), Comcast (CMCSA), Intel (INTC), Linde (LIN), Sanofi (SNY), Honeywell (HON), American Tower (AMT), Altria (MO), Northrop Grumman (NOC), Canadian Pacific Railway (CP), Edwards Lifesciences (EW), Keurig Dr. Pepper (KDP), Hershey (HSY), Valero Energy (VLO), Stellantis (STLA), Xcel Energy (XEL), T. Rowe Price Group (TROW), Sirius XM (SIRI), Southwest Airlines (LUV), Willis Towers Watson (WTW), Roku (ROKU), and First Solar (FSLR) report earnings
U.S. Real GDP Growth Rate - Advance Estimate (Q2 2022)
Real Consumer Spending (Q2 2022)
Kansas Fed Composite Index (July)
Friday, July 29
ExxonMobil (XOM), Procter & Gamble (PG), Chevron (CVX), AbbVie (ABBV), Astrazeneca (AZN), Sony (SONY), Charter Communications (CHTR), Enbridge (ENB), Colgate Palmolive (CL), Takeda Pharmaceuticals (TAK), Phillips 66 (PSX), and CBOE Global Markets (CBOE) report earnings
Personal Income and Spending (June)
Personal Consumption Expenditures (PCE) Price Index (June)
Chicago Purchasing Managers’ Index (PMI) (July)
Michigan Consumer Sentiment Index - Final Reading (July)
Earnings From Big Tech
Next week will be a highly eventful one for corporate earnings, with dozens of prominent companies, among them big tech firms, scheduled to report second-quarter earnings. On Tuesday, the earnings spotlight will be on Microsoft and Alphabet—the parent company of Google—as the two tech giants report their second-quarter earnings. Meta Platforms, the parent company of Facebook, will report on Wednesday, followed by earnings from Apple and Amazon on Thursday. Upbeat earnings are expected from Google parent Alphabet, driven by surging sales revenue from its cloud computing business. Microsoft earnings will also be of particular interest after the company reported increased first-quarter revenue from its business productivity and cloud computing segments.
The outcome of next week’s earnings reports will be crucial in determining the trajectory of U.S. stocks over the upcoming weeks. Despite a recent rally over the past week, the U.S. equity market remains deep in negative territory this year, with the S&P 500 having fallen nearly 17% year-to-date. U.S. stocks previously entered bear market territory in June, defined as a decline of 20% or more from a previous peak. The technology sector has been among the worst-performing market sectors this year, with shares of tech firms leading market declines.
Federal Reserve's July Policy Meeting
On Tuesday and Wednesday of next week, officials from the U.S. Federal Reserve will gather to attend the two-day July policy meeting of the Federal Open Market Committee (FOMC). The nation’s central bank is widely expected to raise its benchmark federal funds rate by a minimum of 75 basis points (bps) in order to tame persistently high inflation. Since March, the Federal Reserve has raised its benchmark rate by a cumulative 150 basis points, to a current range of 1.5 to 1.75%, most recently conducting a 75 bp rate hike at its June policy meeting. Fed policymakers are now projecting a year-end fed funds rate of 3.25 to 3.5%, with an additional rate hike expected in September.
Second Quarter GDP Estimate
On Thursday, the Bureau of Economic Analysis (BEA) will release the advance estimate for second-quarter U.S. gross domestic product (GDP) growth, indicating whether the U.S. economy expanded or contracted during the second quarter. The U.S. economy previously contracted 1.6% at a seasonally-adjusted annual rate during the first quarter. Market watchers and economists will be closely monitoring the release, as two consecutive quarters of negative GDP growth is often used by the National Bureau of Economic Research (NBER) as a historical proxy for dating a recession. The latest estimate published by the Atlanta Fed’s GDPNow tracker calls for a 1.6% contraction in real GDP, equal to the rate of decline during the first quarter.