This week looks like it will prove it be quite busy at both micro and macro levels. As the second-quarter earnings release comes to a close, more than 150 S&P 500 companies release their reports. The Federal Reserve’s policy committee plans to announce an interest- rate decision on Wednesday afternoon, and economists chew on new data releases.
Whirlpool, Vodafone Group, Range Resources, Newmont, NXP Semiconductors, and Philips all release financial results.
Earnings calls hosted by: Visa, UPS, Microsoft, Kimberly-Clark, Mondelez International, Unilever, Stryker, Unilever, Stryker, 3M, Chipotle Mexican Grill, Skechers, Raytheon Technologies, PulteGroup, Moody’s, McDonald’s, General Motors, Coca-Cola, Alphabet, and General Electric.
The S&P CoreLogic Case-Shiller National Home Price Index for the month of May is released. The expectation is that home prices will rise by 21.1% year over year, compared to April’s 21.2% gain.
The consumer confidence index for July released by The Conference Board. Economists’ forecast stands at a 97 reading, a decline from June’s 98.7.
The Census Bureau releases new residential home sales data for the month of June. The consensus estimate stands at a seasonally adjusted annual rate of 680,000 new units versus 696,000 in May.
Monetary policy decision announced by The Federal Open Market Committee. The central bank is expected to increase the federal-funds rate by 75 basis points.
Financial results reported by: 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.
The Census Bureau releases its preliminary durable goods report for the month of June. Economists forecast that new orders climb by 0.3% month over month from May’s 0.81% increase.
Financial reports released by: 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.
The preliminary estimate for the second-quarter 2022 GDP released by The Bureau of Economic Analysis. The forecast stands at a 1.6% growth rate after a 1.6% reduction in the first quarter.
Financial results discussed by these companies: Weyerhaeuser, Phillips 66, Exxon Mobil, Procter & Gamble, Colgate-Palmolive, Chevron, AbbVie, and Sony.
The BEA releases personal income and spending data for June. The expectation is for personal income to rise by 0.5% month over month, while spending is expected to climb by 1%. This compares with gains of 0.5% and 0.2%, respectively, in May.
The Federal Reserve releases a report on the core personal- consumption expenditures price index for the month of June. The consensus estimate for the core PCE index is 4.8% year over year, in comparison to 4.7% in May.