Big Banks, Netflix Kick Off Earnings Season
Several key economic reports will be released, too
It's set to be a busy week on Wall Street, with several key economic reports set for release, including updates on retail sales, housing, and consumer sentiment. Plus, following his two-day congressional testimony which had a dovish tilt, Fed Chair Jerome Powell will take the stage on Friday. What's more, second-quarter earnings season gets underway, with an onslaught of big banks set to report, while Netflix (NFLX) will be the first FAANG stock to react to earnings this season, after the streaming giant unveils its results Wednesday evening.
Below is a brief list of some key market events scheduled for the upcoming week. All earnings dates listed below are tentative and subject to change. Please check with each company's respective website for official reporting dates.
The Empire State manufacturing index is due out Monday, July 15, while New York Fed President John Williams will speak. Charles Schwab (SCHW), Citigroup (C), and J B Hunt (JBHT) will report earnings.
On Tuesday, July 16, retail sales, import and export prices, industrial production, business inventories, and the National Association of Home Builders housing market index will be released. Goldman Sachs (GS), Johnson & Johnson (JNJ), JPMorgan Chase (JPM), CSX (CSX), Domino's Pizza (DPZ), United Airlines (UAL), and Wells Fargo (WFC) will step into the earnings confessional.
Housing starts, the weekly crude inventories update, and the Fed's Beige Book will hit the Street on Wednesday, July 17. Earnings from IBM (IBM), Netflix (NFLX), Abbott Laboratories (ABT), Alcoa (AA), Bank of America (BAC), Bank of New York Mellon (BK), eBay (EBAY), PNC Financial (PNC), Skyworks Solutions (SWKS), and Textron (TXT) are due.
Thursday, July 18, brings weekly jobless claims and the Philadelphia Fed business outlook survey, while Williams will take the stage again. Microsoft (MSFT), UnitedHealth (UNH), Chewy (CHWY), E*TRADE (ETFC), Honeywell (HON),Intuitive Surgical (ISRG), Morgan Stanley (MS), Philip Morris (PM), Skechers (SKX), and SunTrust Banks (STI) will release their quarterly updates.
The University of Michigan's consumer sentiment survey will be released on Friday, July 19. St. Louis Fed President James Bullard will speak during market hours, while Boston Fed President Eric Rosengren will take the stage after the close. American Express (AXP), Cleveland-Cliffs (CLF), Kansas City Southern (KSU), Schlumberger (SLB), and State Street (STT) will unveil earnings.