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The second quarter earnings season resumes this week. Around 60
S&P500
companies must report. Economic releases will include retail sales data and the latest information on the US housing market.
Profits rose on Tuesday, with
Morgan Stanley
,
Bank of America
,
Lockheed Martin
,
And
Prologis
be the highlights of the day. Wednesday,
You’re here
,
Goldman Sachs
Band,
IBM
,
netflix
,
And
United Airlines Holdings
Will inform.
Thursday will bring the results of
Semiconductor manufacturing in Taiwan
,
Johnson & Johnson
,
Newmont
,
And
American Airlines Group
,
SO
American Express
will end the week on Friday.
On Tuesday, the Census Bureau will release retail sales data for June. A monthly increase of 0.4% in consumer spending is expected, a tenth of a point faster than in May.
Also on Tuesday, the National Association of Home Builders will release its housing market index for July. The Census Bureau reports June housing starts on Wednesday, then the National Association of Realtors adds existing home sales for June on Thursday.
Finally, the Conference Board will publish its leading economic index for June on Thursday, after 14 consecutive months of decline.
monday 7/17
The Federal Reserve The Bank of New York publishes the Empire State Manufacturing Survey for July. The consensus estimate is for a negative reading of 6.5, about 13 points lower than in June.
tuesday 7/18
Bank of America
,
Bank of NY Mellon
,
JB Hunt Transportation Services
,
Lockheed Martin,
Morgan Stanley
,
Novartis
,
Omnicom Group
,
PNC Financial Services Group
,
Prologis, and
Synchrony Financial
release earnings.
The Census Bureauu reports retail sales data for June. Consumer spending is expected to rise 0.4% month-over-month, after rising 0.3% in May. Excluding autos, spending is expected to rise 0.3%, two-tenths of a percentage point more than before. US consumers have proven to be much more resilient than most economists predicted at the start of the year.
The national association of Home Builders releases its housing market index for July. Economists forecast a reading of 57, two points higher than in June. The index has risen for six straight months and is at its highest level in nearly a year, despite 30-year mortgage rates near a two-decade high. Strong demand and a lack of existing inventory boosted homebuilder sentiment.
Wednesday 7/19
Tesla reports second quarter results. Shares of the electric vehicle pioneer are up 128% this year, making it the third-best performer in the S&P 500 index. Tesla announced in early July a record 466,140 deliveries for the second quarter, up more than 80% over the previous year.
ASML Company
,
hugue baker
,
Crown Castle
,
Discover financial services
,
Elevance Health
,
Goldman Sachs Group,
Halliburton
,
IBM,
Kinder Morgan
,
Las Vegas Sands
,
Nasdaq, Netflix,
Northern Trust
,
American bank
,
and United Airlines Holdings publish their quarterly results.
The Census Bureau reports new residential statistics for June. The consensus call is for a seasonally adjusted annual rate of 1.48 million private housing starts, more than 9% lower than in May.
Thursday 7/20
Abbott Laboratories
,
American Airlines Group,
Capital One Financial
,
CSX
,
DR Horton
,
Freeport-McMoRan
,
Intuitive surgery
,
Johnson & Johnson,
Kenvue
,
Marsh and McLennan
,
Newmont
,
Philip Morris International
,
SAP,
Semiconductor manufacturing in Taiwan
,
travelers, and
Financial truist
hold conference calls to discuss earnings.
The national association of Realtors reports existing home sales for the month of June. Expectations are for a seasonally adjusted annual rate of 4.3 million homes sold, matching May data.
The conference board publishes its main economic index for the month of June. The LEI has fallen for 14 consecutive months, indicating weaker economic activity to come, according to the Conference Board, which predicts a recession in the next nine months.
Friday 07/21
American Express,
Roper Technologies
,
And
SLB
announce the winnings.
Write to Nicholas Jasinski at nicholas.jasinski@barrons.com